If the required reserve ratio is 8 percent, currency in circulation is $450 million, checkable deposits are $660 million, and excess reserves total $0.35 million, then calculate the following: (round to four decimal places)

1. Simple money multiplier:

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2. Assume that the initial deposit in a bank is $150. Using the above money multiplier, what is the final increase in money supply?

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3. Currency ratio:

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4. Excess reserve ratio:

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5. True money multiplier:

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6. Total reserve:

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7. Monetary base:

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8. Money supply:

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