If the Bank of Canada sells $1 million of bonds to Irving the Investor, who pays for the bonds with a briefcase filled with currency, what happens to reserves and the monetary base? First show the impact of this transaction on the T-account of Irving the Investor. (Select the correct choice below, and fill in the answer boxes to complete your choice. Type integers or decimals. Enter a negative value to indicate a decrease, and enter a positive value to indicate an increase. Do not include plus signs in your responses.) . Assets Liabilities Securities $ m Currency $ m Chequable deposits $ m . Assets Liabilities Currency $ m Securities $ C. Assets Liabilities Currency $ m Securities $ m Chequable deposits $ m D. Assets Liabilities Currency $ m Securities $ m Show the impact of this transaction on the T-account of the Bank of Canada. (Select the correct choice below, and fill in the answer boxes to complete your choice. Type integers or decimals. Enter a negative value to indicate a decrease, and enter a positive value to indicate an increase. Do not include plus signs in your responses.) A. Assets Liabilities Currency in circulation $ m Securities $ m Reserves $ m B. Assets Liabilities Securities $ m Currency in circulation $ m C. Securities Assets $ m Currency in circulation $ m D. Assets Liabilities Securities $ m Reserves $ m Liabilities What happens to reserves in the banking system? (Select the correct choice below and, if necessary, fill in the answer box to complete your choice. Type an integer or a decimal as needed. Enter a positive value as needed. Do not include a plus sign in any response.) OA. Reserves increase by $ million. million. B. Reserves decrease by $ OC. Reserves do not change. What happens to the monetary base? (Select the correct choice below and, if necessary, fill in the answer box to complete your choice. Type an integer or a decimal as needed. Enter a positive value as needed. Do not include a plus sign in any response.) OA. The monetary base decreases by $ million. B. The monetary base increases by S OC. The monetary base does not change. million.