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(1) The Monetary Base experienced several sharp increases, especially in 2009 and in 2020. What caused these spikes? (2) The correlation coefficient between the two

(1) The Monetary Base experienced several sharp increases, especially in 2009 and in 2020. What caused these spikes?

(2) The correlation coefficient between the two series is 0.46. Why would we expect a positive, but imperfect correlation?

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