Find the Determinant of the Matrix $\left[ \begin{array} { l l } \frac { 1 } { 3 } & \frac { 1 } { 4 } \\\frac { 3 } { 2 } & 1\end{array} \right]$

question 10

Essay

Find the determinant of the matrix $\left[ \begin{array} { l l } \frac { 1 } { 3 } & \frac { 1 } { 4 } \\\frac { 3 } { 2 } & 1\end{array} \right]$
, if it exists.

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Definitions:

Monetary Policy

The management of a country's money supply and interest rates by its central bank to control inflation and stabilize the currency.

Amount Of Money

The total sum or figure represented in currency units, indicating the value or cost of an item, service, or financial obligation.

Monetary Policy

The process by which the central bank or monetary authority of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure economic stability and growth.

Credit Markets

Financial markets where borrowers can obtain funds from lenders, typically through the issuance of debt securities or loans.