France. hoped this helped :)
Answer:
In situation where, large amounts of federal reserves enter the banking system (resulting in large amount of liquidity) but the federal reserves are withheld by the banking system it would form excess reserves. This withholding of reserves would most likely lead to the money multiplier(M1) to fall below one.
As there is a direct relationship between the banking system reserves and the money multiplier.
Answer:
Explanation:
The North was more industrial and produced 94 percent of the USA's pig iron and 97 percent of its firearms. The North even had a richer, more varied agriculture than the South. The Union had a larger navy, blocking all efforts from the Confederacy to trade with Europe.
