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Consider a system with multiple banks. Customers deposited $800 billion in a bank, and the bank was required by the central bank to keep $128
Consider a system with multiple banks. Customers deposited $800 billion in a bank, and the bank was required by the central bank to keep $128 billion in reserves. Calculate the money multiplier for this economy. Assume that all excess reserves are loaned out. Round your answer to one decimal place if necessary.
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