Define money multiplier. What is the value of the money multiplier in a system of 100% reserve

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Define money multiplier. What is the value of the money multiplier in a system of 100% reserve banking? What is the value of the money multiplier in a system of fractional reserve banking, if all money is held in the form of deposits? Why is the money multiplier higher under fractional reserve banking than under 100% reserve banking?
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Macroeconomics

ISBN: 978-0321675606

6th Canadian Edition

Authors: Andrew B. Abel, Ben S. Bernanke, Dean Croushore, Ronald D. Kneebone

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