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Show all steps of your work clearly to ensure partial credit. (100 pts) 1. (5 points) a. (3 points) Why is the lending rate higher
Show all steps of your work clearly to ensure partial credit. (100 pts) 1. (5 points) a. (3 points) Why is the lending rate higher than the policy rate? b. (2 points) Is the spread between the policy rate and the lending constant over time? Provide historic evidence to support your
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