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Currency held outside banks + demand deposits + travelers checks + other checkable deposits =

caillacakes

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Currency held outside banks + demand deposits + travelers checks + other checkable deposits =

Question 1.

Assume that in the country of Salmon, the government tripled the money supply overnight. As a result of this action, the price of a loaf of bread increased from 1 bill to 100 bills. This is an example of

▸ a change in the legal tender.

▸ a change from commodity money to fiat money.

▸ currency debasement.

▸ deflation.

Question 2.

Currency held outside banks + demand deposits + travelers checks + other checkable deposits =

▸ M3.

▸ M2 - M1.

▸ M3 - M1.

▸ M1.

Textbook

Principles of Economics

Edition: 12^th

Authors: Case, Fair, Oster

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Curtis x.

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caillacakes Author

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Helped a lot

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Thanks

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Just got PERFECT on my quiz

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