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If the Central Bank directs commercial bank directs commercial banks to keep 15 percent of total deposits they receive as reserves while the public desires
If the Central Bank directs commercial bank directs commercial banks to keep 15 percent of total deposits they receive as reserves while the public desires to hold 18 percent of the money received, determine the total money that could be circulated from an initial deposit of 650 billion shillings. Out of this, calculate how much will be in cheques and cash.
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