suppose Mr.Y deposits AED 100.000 into a one-year certificate of deposit at 5% interest.the central bank sets the reserve ratio for the banks at 10%.
a.illustrate how the banks create money with the hep of given information.(show first 5 steps)
b.calculate the total money creation in the economy with the help of formula.
Once you reach college or university, the level of writing that is expected from you should be quite high. They…
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