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NEWS WIRE RESERVE REQUIREMENTS China Cuts Reserve Requirements BEIJINGFor the third time this year China's central bank reduced the amount of reserves commercial banks are required to hold, freeing up money for lending in the latest easing measure to shore up the world's second-largest economy. The People's Bank of China's half percentage point out in the reserve requirement lowers the reserve-requirement ratio, or RRR, to 15.5 percent. The move frees up about US $108 billion in additional funds that banks can now lend. Source: News reports, July 5-10, 2018. What was the money multiplier in China Instructions: Round your response to two decimal places. a. before the change in reserve requirements? b. after the change in reserve requirements? :l