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Essentials of Economics 10th Edition by Bradley Schiller, Karen Gebhardt
Edition 10ISBN: 978-1259235702Essentials of Economics 10th Edition by Bradley Schiller, Karen Gebhardt
Edition 10ISBN: 978-1259235702 Exercise 8
POLICY PERSPECTIVES From June 2008 to June 2009, M1 increased from $1,400 billion to $1,656 billion.
( a ) By what percentage did M1 increase?
( b ) If the Fed had used a fixed rule of 3 percent growth of M1, how large would M1 have been in 2009?
( a ) By what percentage did M1 increase?
( b ) If the Fed had used a fixed rule of 3 percent growth of M1, how large would M1 have been in 2009?
Explanation
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a. Percentage of Money supply (M1) chang...
Essentials of Economics 10th Edition by Bradley Schiller, Karen Gebhardt
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