Assume the following for a given economy: Demand Deposits (DD) = $890 b. Excess Reserves in banking system = none ($0 b.) Required reserve ratio = 9% Assume also that The public holds $0 15 in cash for every $1 it holds in demand deposits [DD]. Banks lend out 80% of any additional excess reserves they receive (w = 20). Determine the deposit multiplier (DM) for the banking system. [Show all calculations. Take the calculation out to 4 decimal points. Circle your answer]. Now assume that the FED soils $14.8 billion in open market operations. How much will the money supply (M1) change by in the banking system? [Show all calculations. Take the calculation out to 4 decimal points. Circle your