Which of the following functions express the money multiplier (m) for
Which of the following functions express the money multiplier (m) for the narrowly defined money stock (M1)?
a. m = ΔMs/Δ(MB) = m(rrd)
b. m = ΔMs/Δ(MB) = m(rrd, CU/D, ER/D)
c. m = ΔMs/Δ(MB) = m(rrd + CU/D)
d. m = ΔMs/Δ(MB) = m(rr/D, CU/D, RR/D)
ANSWER
B
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