Question
Assume that total currency in the economy is $1,000 billion and the total checkable deposits is $10,000 billion. The excess reserve in the banking system
Assume that total currency in the economy is $1,000 billion and the total checkable deposits is $10,000 billion. The excess reserve in the banking system is $500 billion. If the required reserve ratio is 10%, what is monetary base, what is money multiplier, and what is M1?
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The Complete Direct Investing Handbook
Authors: Kirby Rosplock
1st Edition
1119094712, 978-1119094715
