Maximum Money Supply Increase
If the required reserve ratio set by the Federal Reserve is 15% and the Federal Reserve purchases $1,500,000 worth of United States government bonds on the open market, what is the maximum potential increase in the money supply?
A
$15,000,000
B
$9,000,000
C
$5,000,000
D
$7,500,000
E
$10,000,000