What is the consequence of fractional reserve banking according to Austrian theory? a. Too slow credit growth,
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Question:
What is the consequence of fractional reserve banking according to Austrian theory?
a. Too slow credit growth, causing boom-bust cycles
b. Too rapid money growth, causing boom-bust cycles
c. Too little capital in banks, causing boom-bust cycles
d. Too high leverage in the private sector, causing boom-bust cycles
Expert Answer:
ANSWER The Austrian business cycle theory ABCT is an economic theory developed by the Austrian Schoo... View the full answer
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