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Currency held outside banks: 900 billion

Demand deposits: 1,200 billion

Traveler's checks: 300 billion

Other checkable deposits: 400 billion

Savings accounts: 600 billion

money market accounts: 300 billion

Other near monies: 800 billion

Based on this data:

Assume the banking system has $300 billion in demand deposits and $30 billion in reserves. In addition, assume that the required reserve ratio is 5 percent. Answer the following questions:

1. How much excess reserve is in this system?
2. What is the value of the money multiplier?
3. What is the maximum amount of change in demand deposit creation that could take place if the banking system lent out all of its excess reserves?