rom the end of 2010 to the end of 2011, M1 increased from $2006 billion to $2311 billion a. By what percentage did M1 increase? b. If the Fed had used a fixed rule of 3 percent growth in money supply, how large billion would M1 have been in 2011?
rom the end of 2010 to the end of 2011, M1 increased from $2006 billion to $2311 billion a. By what percentage did M1 increase? b. If the Fed had used a fixed rule of 3 percent growth in money supply, how large billion would M1 have been in 2011?
Chapter13: The Federal Reserve System
Section: Chapter Questions
Problem 8WNG
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From the end of 2010 to the end of 2011, M1 increased from $2006 billion to $2311 billion a. By what percentage did M1 increase? b. If the Fed had used a fixed rule of 3 percent growth in money supply, how large billion would M1 have been in 2011?
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