solve first four subparts Suppose that the required reserve ratio is 10%, currency in circulation is $620 billion, the amount of checkable deposits is $950 billion, and excess reserves are $16billion.The money supply is $ 1570 billion. (Round your response to the nearest whole number.)The currency deposit ratio is 0.653. (Round your response to three decimal places.)The excess reserves ratio is 0.017. (Round your response to three decimal places.)The money multiplier is 2.15. (Round your response to two decimal places.)Suppose the central bank conducts an unusually large open market purchase of bonds held by banks of $1,380 billion due to a sharp contraction in the economy.Assuming the ratios you calculated in the previous steps are the same, the money supply should increase to $ 4,539 billion. (Round your response to the nearestwhole number.)Suppose the central bank conducts the same open market purchase as in the previous step, except that banks choose to hold all of these proceeds as excess reservesrather than loan them out, due to fear of a financial crisis.Assuming that currency and deposits remain the same, the new amount of excess reserves is $billion. (Round your response to the nearest whole number.)

Answer: As asked I am answering the first four sub-parts. Given, Required reserve ratio (RRR) = 10%…

Suppose that the required reserve ratio is 10%, currency in circulation is $620 billion, the amount of checkable deposits is $950 billion, and excess reserves are $16 billion. The money supply is $ 1570 billion. (Round your response to the nearest whole number.) The currency deposit ratio is 0.653. (Round your response to three decimal places.) The excess reserves ratio is 0.017. (Round your response to three decimal places.) The money multiplier is 2.15. (Round your response to two decimal places.)

Suppose that the required reserve ratio is 10%, currency in circulation is $620 billion, the amount of checkable deposits is $950 billion, and excess reserves are $16 billion. The money supply is $ 1570 billion. (Round your response to the nearest whole number.) The currency deposit ratio is 0.653. (Round your response to three decimal places.) The excess reserves ratio is 0.017. (Round your response to three decimal places.) The money multiplier is 2.15. (Round your response to two decimal places.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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