In the economy of Nagaland, the commercial banks have deposits of $600 billion. Their reserves are $60 billion All reserves are in deposits with the Central Bank and the commercial banks hold no excess reserves. There is $120 billion in Central Bank notes outside the banks and there are no coins What is the economy's monetary base? What is the quantity of money in the economy? Calculate the money multiplier a. C. What is the growth in standard of living for 2003 to 2006 b