Consider the following information for a simple economy. Assume there are no traveler's checks. Currency is equal to $877, checking account balances are equal to $1,216, savings account balances are equal to $1,081, small-denomination time deposits are equal to $3,409, and money market fund shares are equal to $838. What does M1 in this simple economy equal to?

Assume the required reserve ratio is 15%, the amount of deposits in a bank are $1,338, and the bank is holding $542 in reserves. How many of those reserves are excess reserves?

Assume the required reserve ratio is 9%, the amount of deposits in a bank are $1,134, and the bank is holding $675 in reserves. What is the maximum amount of additional loans this bank can make?