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4. {15 points) Answer the following: (a) {5 points} Explain fractional reserve banking. {b} {5 points} What are the pros and cons of fractional reserve

4. {15 points) Answer the following: (a) {5 points} Explain fractional reserve banking. {b} {5 points} What are the pros and cons of fractional reserve banking? {c} {5 points} How would you compare these pros and cons to a gold standard

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