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Consider an economy in which people wish to hold bank checking deposits worth a total of 5 million goods and currency worth 2 million goods in every period. In addition there is a stock of unintermediated capital worth 10 million goods. Fiat money is the only asset used as currency. Deposits at banks are subject to a reserve requirement of 20 percent. After meeting the reserve requirement, banks invest the remainder of all deposits into capital. The monetary base is $1 millon. Hint: The key to this exercise is understanding the difference between inside and outside money.
e. Find the revenue (in goods) from seignorage if the monetary base triples every period.
f. Suppose people want to keep more of their money balances in the form of cash, although their total demand for money does not change. What will happen to each of your answers to part a to e?
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Suppose you are considering the purchase of a 2011 Ford Explorer. The car costs $22,000 and you plan to make a $2,000 down payment. For a 48 month lease, the APR is 4.9%. What is your monthly payment? What happens to your answer if you extend the loa..
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In addition to other factors, the increased use of technology and the reduced costs of information transfer from local office to corporate headquarters has: The lateral decision-right assignment is carried out on the basis of:
Suppose that demand for a public park for two groups of consumers (A and B) are given by:
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