Imagine that the chairperson of the federal reserve

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Imagine that the chairperson of the Federal Reserve announced that, as of the following day, all currency in circulation in the United States would be worth 10 times its face denomination. For example, a $10 bill would be worth $100; a$100 bill would be worth $1,000, etc. Furthermore, the balance in all checking and savings accounts is to be multiplied by 10 as will the balance of all outstanding debts. So, if you have $500 in your checking account, as of the followingday, your balance would be $5,000, etc. Would you actually be 10 times better off on the day the announcement took effect?
What would be the effects of such a policy?
Identify a possible problem with this policy.
If a country enacts fiscal policy to alleviate a recession by lowering taxes and increasing government
During the oil shocks of the 1970s and 1980s, price controls were imposed to control rising fuel prices and slow down inflation. Price controls like these often result in ____________.
Which of the following would be true for the banking system if there were no government regulation?
An open market operation is ____________.an exchange between a private bank and the Federal Reserve where the Fed buys or sells government bonds to private banks.

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