#3 Let's assume that the public holds no cash, and there are no excess reserves in the banking system.If the reserve requirement is 0.10, and the Federal Reserve sells $3 Billion worth of bonds in the Open Market, this will:

increase checkable deposits in the banking system of $3 Billion.

decrease checkable deposits in the banking system by $30 Billion.

increase checkable deposits in the banking system by $30 Billion.

decrease checkable deposits in the banking system by $10 Billion.