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In the United Kingdom the currency drain ratio is 038 of deposits and the reserve ratio is 0.002. In Australia the quantity of money is $150 billion the currency drain ratio is 33 percent

In the United Kingdom, the currency drain ratio is 0.38 of deposits and the reserve ratio is 0.002. In Australia, the quantity of money is $150 billion, the currency drain ratio is 33 percent of deposits, and the reserve ratio is 8 percent. a. Calculate the U.K. money multiplier. b. Calculate the monetary base in Australia.

Apr 05 2020 View more View Less

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