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II. Consider the following U.S. historical data is from the 1930 s: (a) Please use the data in table
1 to fill in table 2. M (money supply M1) (b) Based on your calculations in table 2, explain what
happened. Discuss what happened to the Money Base, Money Supply, and multiplier. Which
player in the money supply process controls each. (c) What policy mistake did the FED make?

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