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Suppose that the public holds 50% of the money supply in currency and the reserve requirement is 20%.Banks hold no excess reserves.A customer deposits $6000 in her chequable deposit.
-The governor and five deputy governors of the Bank of Canada are responsible for:

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The governor and five deputy governors of the Bank of Canada are responsible for monetary policy. This includes setting interest rates, controlling the money supply, and regulating the banking system. The scenario given about the reserve requirement and the money supply in currency is an example of the Bank of Canada's role in managing monetary policy.

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