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In Fall 1999, people in the financial community were making their final plans for the beginning...

In Fall 1999, people in the financial community were making their final plans for the beginning of the year 2000. Everyone was concerned about the Y2K problem. The primary concern was that public would panic and remove significant amount of cash from banks. a. What would the effect of removing cash from banks be on the following: the monetary base, the money multiplier and the money supply? Explain b. Explain the banking system response to the expected event? c. Explain the Fed response to the expected event

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