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    Macroeconomics Study Set 41
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    Exam 8: Money, the Price Level, and Inflation
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    The Monetary Base Does NOT Include
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The Monetary Base Does NOT Include

Question 52

Question 52

Multiple Choice

The monetary base does NOT include


A) Federal Reserve notes.
B) commercial banksʹ reserves.
C) checking accounts at commercial banks.
D) reserves of depository institutions.

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