If the required reserve ratio is 14 percent, currency in circulation is $650 million, checkable deposits are $860 million, and excess reserves total $0.55 million, then calculate the following: (round to four decimal places)

1. Simple money multiplier: Answer

2. Assume that the initial deposit in a bank is $300. Using the above money multiplier, what is the final increase in money supply? Answer

3. Currency ratio: Answer

4. Excess reserve ratio: Answer

5. True money multiplier: Answer

6. Total reserve: Answer

7. Monetary base: Answer

8. Money supply: Answer