Refer to the information below. The monetary multiplier is: Consolidated balance sheet for the chartered banking system. All figures are in billions. Assume that the desired reserve ratio is 20 percent. 
Definitions:
Average-Cost Curve
The average-cost curve represents the total cost of production divided by the quantity of output produced, showing how the average cost per unit of product changes with changes in output level.
Government Regulation
Rules or laws established by governments to control or manage specific activities, businesses, or industries.
Economies of Scale
The economic gains achieved by companies through their large-scale operations, which lead to a reduction in the cost per unit as the scale of operation increases.
Product Development
The process of bringing a new product to the market, including ideation, design, creation, and marketing.
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