1. (8 points) We have following data on US money aggregates. M1 M1 (DISCONTINUED), Billions of Dollars WCURRNS Currency Component of M1, Billions of Dollars TCD Total Checkable Deposits (DISCONTINUED), Billions of Dollars BOGMBASE Monetary Base; Total, Billions of Dollars BOGMBBM Monetary Base; Reserve Balances, Billions of Dollars Fre uenc :Annual observation date WCURRNS BOGMBASE BOGMBBM 1975-01-o1h-032E 1985-01-01 \"EBEHE 19950101 1127.0 379.7 -IE 2005-01-01 mm 736.5 m 2015-01-01 3099.9 1347.9 1756.8 3836 2019-01-01 . . . You can download the excel le from Canvas and do all your calculation on a spread sheet. Question number is included in the name of spread sheet. Do describe the formula used in calculation in your answer and attach the result. The excel le also has data for more time periods and sometimes more variables; explore on your own if you are curious. (a) (2 points) Calculate M1 money multipliers for each year. (b) (2 points) Calculate Currencydeposit ratio for each year. (c) (2 points) Calculate Reservedeposit ratio for each year. Notice that \" Reserve balances\" are commercial banks deposits at Fed, not total reserve. (d) (2 points) How are M1 money multipliers related to Currencydeposit ratio and Reservedeposit ratio