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Based on the information in the table, what quantity of reserves would the Federal Reserve have had to inject into the economy in 1932 to prevent the money supply from falling, given that the public increased the amount of currency it held and that banks increased the reserve-deposit ratio?
Accrued Interest
The interest that has accumulated on a bond since the last interest payment up to, but not including, the purchase (or sale) settlement date.
Interest Days
The number of days over which interest is calculated on a loan or financial instrument.
Coupon Bond
A type of bond that pays the holder interest at a fixed rate, typically semi-annually, until maturity when the face value is repaid.
Ask Price
The lowest price at which a seller is willing to sell a financial asset, commodity, or currency in the market at a particular time.
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