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12: In the Economy of the State of Virginia, the monetary base is $1,000. People hold a third of their money in the form of
12: In the Economy of the State of Virginia, the monetary base is $1,000. People hold a third of their money in the form of currency (and thus two-thirds as bank deposits). Banks hold a third of their deposits in reserve. What is the Total Money? i.e. Multiplier times Money Base. A. $1800 B. $2000 C. $2900 D. $1550
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Price theory and applications
Authors: Steven E landsburg
8th edition
538746459, 1133008321, 780538746458, 9781133008323, 978-0538746458
