Problem
In 1999, there was broad concern about the Y2K computer problem. Banks and the Fed predicted that many people would want to hold additional cash in case there were financial problems on January 1, 2000. Use the money multiplier analysis to predict what would happen to deposits and the money supply if people increased their holding of cash and the Fed kept total reserves fixed.
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.