20. For each of the following situations, explain whether the data is automatically correct, possible under certain conditions, or absolutely impossible. Carefully explain each of your choices. HINT: You may want to think back to your formulas.

(a) The monetary base is decreasing while currency in circulation is increasing.

(b) Required reserves are increasing while checkable deposits are increasing.

(c) Imports are increasing and aggregate demand is increasing, with all other accounting factors held constant.

(d) Nominal income is increasing, the money supply is decreasing, and velocity is decreasing.