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Business, 20.03.2021 08:50 mimi19374

The desired reserve ratio is 10 percent of deposits, and the currency drain ratio is 1 percent of deposits. The central bank makes an open market purchase of $5 million of securities.
Calculate the change in the quantity of money and how much of the new money is currency and how much is bank deposits.

The quantity of money changes by $___ million.

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