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Consider an overlapping generations economy in which money is valued. Is the monetary equilibrium efficient? Compare it with the Golden Rule equilibrium. Use graphs to

Consider an overlapping generations economy in which money is valued. Is the monetary equilibrium efficient? Compare it with the Golden Rule equilibrium. Use graphs to support your answer.

What is seigniorage?

b) What is the monetary base?

c) What is high powered money?

Is there a relationship among the above variables?

please answer briefly.

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