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The isolated economy of Alvonia still uses the British pound () for money and the Alvonian citizens hold twice as much cash (currency) as they
The isolated economy of Alvonia still uses the British pound () for money and the Alvonian citizens hold twice as much cash (currency) as they hold in current deposits. If the economy contains 4200 1 notes and banks maintain a reserve ratio of 10% what is the quantity of money on Alvonia?
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