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The Monetary System - Work It Out: Question 2 In the economy of Robberia, the monetary base is $4700. People hold 50% of their money in the form of currency (and thus 50% as bank deposits). Banks hold 15% of their deposits in reserve. Throughout this question, enter all answers to THREE places after the decimal. c. In the face of this panic, the central bank wants to conduct an open-market operation to keep the money supply at its original level. Calculate, in dollars, how much the central bank needs to transact. The central bank sells worth of bonds