Provide numerical answers for the next 7 questions (@3 pts. for 18 + 3 bonus).

Round off, if necessary, to the nearest whole dollar.

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Use a comma as a separator for values in the thousands

Use a “\$” for dollar value answers.

Good types of answers: +\$444 or -\$3,200 or -2.34 rounded to two decimal places.

Bad types of answers: +444.25 (no \$ and not rounded off to the nearest whole dollar) or \$3200 (no + or – and no comma) or 2.3 (if to be rounded to 2 places)

#1. If a bank has undesired excess reserves of \$300, and if rr=20%, e=15% and c=20%, what is the value of the money multiplier? [Provide to two decimal places.]

#2. If a bank has deposits of \$4,000 and reserves of \$1000 and if rr=25%, e=15% and c=10%, then what is the bank’s level of undesired excess reserves? Be clear about whether this is positive or negative.

#3. If a bank has undesired excess reserves of \$250, and if rr=15%, e=15% and c=10%, then to restore equilibrium by how much will the money supply (M1) change? Be clear about whether this is a positive or negative change.

#4. If a bank has undesired excess reserves of -\$450 and where e=15%, c=20%, and m*=4.8, to restore equilibrium by how much will the  money supply(M1) change? Be clear about whether this is a positive or negative change.

#5. If a bank has \$18,500 in deposits, and \$4,300 in reserves, and if rr=15%, e=5% and c=20%, how much undesired excess reserves does the bank have? Be clear about whether this is positive or negative.

#6. If a bank has \$30,000 in deposits, and \$3,250 in reserves, and if rr=20%, e=2.5% and c=15%, how much currency is in circulation? Be clear about whether this is positive or negative.

Bonus #7. If a bank has undesired excess reserves of \$830 and where e=7%, c=8%, and m*=4.3, what is the value of the required reserve ratio (rr)? Express in % terms, use that symbol, rounded to one decimal place. [So, 15.6% is ok, but 15% is not, nor is .156]  For more Information on  Business and Finance  check on this: https://en.wikipedia.org/wiki/Business_%26_Finance

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