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Hard Currency
Hard currencies can be exchanged for other hard currencies at a designated exchange rate. Currency in which there is large confidence in the world markets, as opposed to soft currency, which is not hugely accepted as legal tender outside the country of origin.
In this problem, we are going to measure the money multiplier one year prior to the Great Recession (12/2006) and compare it to the money multiplier 5 years since (12/2011). The i
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