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Suppose that: r=requiredreserveratio=0.10c={C/D}=currencyratio=0.45e={ER/D}=excessreserveratio=0.03MB=themonetarybase=$3,000billion Given that the formula for the money multiplier is (r+e+c1+c), find the value for M, the money supply. The money supply is

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Suppose that: r=requiredreserveratio=0.10c={C/D}=currencyratio=0.45e={ER/D}=excessreserveratio=0.03MB=themonetarybase=$3,000billion Given that the formula for the money multiplier is (r+e+c1+c), find the value for M, the money supply. The money supply is $ billion. (Round your response to the nearest whole number.) Use the money multiplier to find the new value for the money supply if open market operations increase the monetary base by $100 billion. The money supply is now $ billion. (Round your response to the nearest whole number.)

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