johnnyekins johnnyekins

09-02-2024
Business

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Suppose the monetary base (of stock of high-powered money, H) is £20217, that the proportion of money people want to hold as currency is 0.6 and that the amount of reserves banks hold per £ of deposit accounts (reserve ratio) is 0.6.

What is the overall supply of money in this economy (2 decimal places)?

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