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n the Sinmoneda economy, bank deposits add up to 300 million dollars. Its reserves are $14 million, two-thirds of which are on deposit at the
n the Sinmoneda economy, bank deposits add up to 300 million dollars. Its reserves are $14 million, two-thirds of which are on deposit at the central bank. Families and businesses hold $29 million in notes. There are no coins. Calculate the monetary base.
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