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How much will the money supply change in millions

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The next two questions refer to the below information:

A) The trading desk at the Federal Reserve sold $700 million in T-Bills. If the current reserve requirement is 7%, how much will the money supply change in Millions? Please be sure to include the sign if it is relevant.

B) If the reserve requirement were 16%, what would the change in the money supply be (in millions)? Please be sure to include the sign if it is relevant.

Reference no: EM133058284

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