Question
Suppose a worker at the Federal Reserve Branch Bank in Memphis discovers, in the inky shadows of the closet he is cleaning, a painting of
Suppose a worker at the Federal Reserve Branch Bank in Memphis discovers, in the inky shadows of the closet he is cleaning, a painting of Elvis (medium: oil on velvet) that used to grace the walls of the conference room. Suppose further that, at a public auction, the Fed Branch Bank sells the painting for $19.95 and that commercial banks are making some loans. This sale will cause _____ in the money multiplier, everything else held constant.
an increase of more than $19.95
B.no change
C.an increase of $19.95
D.a decrease of less than $19.95.
E.a decrease of more than $19.95
F.an increase of less than $19.95.
G.a decrease of $19.95
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