In this chapter, you learned that the money multiplier is calculated as one divided by the required
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In this chapter, you learned that the money multiplier is calculated as one divided by the required reserve ratio. This definition implicitly assumes that banks are not holding excess reserves. Would the existence of excess reserves lead the money multiplier to be smaller or larger?
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The existence of excess reserves would lead the money multiplier to be smaller The money multip...View the full answer
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Related Book For 
Principles Of Macroeconomics
ISBN: 9781292303826
13th Global Edition
Authors: Karl E. Case,Ray C. Fair , Sharon E. Oster
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