Consider the following information about a banking system: new currency deposited in the system = $40 billion, legal reserve ratio = 0.20, excess reserves prior to the currency deposit = $0. the $40 billion deposit of currency into checking accounts will initially create

The $40 billion deposit of currency into checking accounts will create "$40 billion of new checkable deposits."

Checkable deposits are also known as demand deposit which means that the owner can withdraw without any prior notice.

in an absolute  monarchy, the  monarchrules as an autocrat, with absolutepower  over the state and government — for example, the right to rule by decree, promulgate laws, and impose punishments. the  monarch isnominally sovereign but the electorate, through their legislature, exercise political sovereignty.

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