pretend you are in charge of conducting monetary policy at the new yor
Pretend you are in charge of conducting monetary policy at the New York Fed and you have the following initial conditions. Initial Conditions rr/D = .10 C = 900 b%3D D= 1800 b ER = 0 M= C+D Given the above information (show all work on your exam sheet): i) Calculate the MB. ii) Calculate the money multiplier (mm). iii) What is the money supply (use MS = mm x MB)?
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