7. The Fed buys $300 million of bonds from the public. Use public, bank and FED T accounts to show what will happen to the money supply. 8. Suppose that currency in circulation is $100 billion, the amount of checkable deposits is $900 billion, and excess reserves are $180 billion and the required reserve ratio is 10%. Calculate the money supply, monetary base, the currency deposit ratio, the excess reserve ratio, and the money multiplier