What is high-power money in the economy?

High-power money refers to the total number of banknotes and coins in circulation in a country. Terms such as base money, reserve money, and base money are also used to describe this type of money. High-power money includes the total amount of money circulating in the economy, money that is held in vaults and banks, and the reserves of commercial banks that are held at the Central Bank. The volume of highly efficient money can be changed or increased by selling government bonds or manipulating interest rates.

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