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0. In the country of SpringNow, the public is holding a total of $5,000. Total lending in the banking sector, which has 10 identical banks,

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0. In the country of SpringNow, the public is holding a total of $5,000. Total lending in the banking sector, which has 10 identical banks, is $75,000. The currency deposit ratio is 5% and the reserve requirement is 15%. The banks may hold excess reserves. (a) Describe the balance sheet for one of the 10 banks. (b) How much reserves do the banks hold as a fraction of total deposits? (c) How large is the money supply in this economy? ((1) What is the money multiplier in this economy? (e) How would a $6,000 open market sale of bonds by SpringNow central bank change total reserves and money supply in SpringNow? Assume that all the banks behave identically

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