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At one time, the country of Aquilonia had no banks, but had currency of $10 million. Then a banking system was established with a reserve

At one time, the country of Aquilonia had no banks, but had currency of $10 million. Then a banking system was established with a reserve requirement of 10 percent. The people of Aquilonia deposited half of their currency into the banking system. If banks do not hold excess reserves, what is Aquilonia's money supply now?

a.$11 millionb.$10 millionc.$55 million

d.$50 million

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