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(c) Suppose the Fed injects $50 billion in reserves into the banking system. Will the total change in the money supply be larger when

(c) Suppose the Fed injects $50 billion in reserves into the banking system. Will the total change in the money supply be larger when individuals hold 10% of their money as currency or when they hold 20% of their money as currency? Explain. Note: I am NOT asking you to calculate the change in the money supply.

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