Suppose that at the end of December 2004, the monetary base in the United States is $650

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Suppose that at the end of December 2004, the monetary base in the United States is $650 billion, Federal Reserve notes are $600 billion, and coins are $20 billion. What are the commercial banks' reserves at the Fed?

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Foundations of Macroeconomics

ISBN: 978-0132831000

6th edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Mar 04, 2016 07:42 AM

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Suppose that at the end of December 2004, the monetary base in the United States is $650

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The monetary base is the sum of coins Federal Reserve notes ...View the full answer

Foundations of Macroeconomics

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