Question
The people in an economy have $422 million in money. There is only one bank that all the people deposit their money in and it
The people in an economy have $422 million in money. There is only one bank that all the people deposit their money in and it holds 6% of the deposits as reserves. What is the money multiplier in this economy?
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Essentials of Economics
Authors: N. Gregory Mankiw
8th edition
1337091995, 978-1337515351, 1337515353, 978-1337091992
