13. In the early 1980s, interest rates such as the prime rate and even the rate on...
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13. In the early 1980s, interest rates such as the prime rate and even the rate on U.S. Treasury bills reached unheard-of heights, nearing or even exceeding 20 percent. What do you think happened to the excess reserve ratio? Why? Would this have tended to increase or decrease the money supply?
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Related Book For 
Money Banking And Financial Markets An Economic Approach
ISBN: 9780395643952
1st Edition
Authors: Michael R. Baye, Dennis Jansen
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