Suppose that the statistics for the economy as a whole (in billions of $) are as follows:
Currency held by the public | 100 |
Reserves held by banks | 90 |
Checkable deposits held at banks | 800 |
Time deposits held at banks | 200 |
If the demand deposit reserve requirement on checkable deposits is 10 percent and the lime deposit reserve requirement is 5 percent, what is the value of the Ml multiplier?
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