Can you explain question 2?

(15 pto) 2. The following balance sheet (column 1) for "All Member Banks Combined" serves as a starting point Assume a closed economy and not a Global economy exists. Asgets 2 Vault Cash $ 84,000 $ 84,000 Reserves at Fed Res 290,400 Required 276,000 Excess 14,400 Federal Funds Sold 432,000 432,000 Loans 5,760,000 Securities 1,680,000 Other Asgets 1.281,600 1.281.600 Total Asgets $9,528,000 Liabilities Demand Deposits $ 3,600,000 Time Deposits 4,195,200 4,195,200 FF Purchased 432,000 432,000 Loans, Discounts and Advances 14,400 14.400 Other Liabilities 417,600 417,600 Capital Account 868.800 868.800 Total Liabilities + NW $9,528,000 $ In the problem, assume that reserve requirements that must be maintained in cash or at the Federal Reserve are 10% on demand deposits and 0% on time deposits. Please fill in the aggregate balance sheet for member banks for the fiscal policy problem. a Fill in column 2 with this part. (Assume column ] is the starting position.) Because of the nature of the economy and the large federal deficit, the U.S. Government finances a $44,000 deficit by selling $20,000 of new bonds to banks and $24,000 of new bonds to non-banks. How would your answer possibly change in a Global economy? Banks Assets Liabilities ARes ADD $ ^Sec $ US Treasury S securitize gecurities S Private Sector Banks Demand Deposits Bank RR = .10 ($ )- 84,000 =_$