Jane currently has $4,400 in her savings account and $2,000 in her checking account at the local bank.

Instructions:Enter your answers as a whole number. Use a positive number to represent an increase and a negative number () to represent a decrease.

a.If Janewithdraws $450 in cash from her savings account, by what dollar amountwill the country's money supply(M1 andM2) change as a result ofJane's actions?

Change inM1: $ HOW MUCH

Change inM2: $ HOW MUCH

b. Suppose that after Jane withdraws $450 from her checking account, she uses $190 of this money to pay her federal income tax. After paying her taxes,Jane uses $140 to buy a set of used golf clubs from her neighbor, who then depositsthe moneyinto his checking account.Jane deposits the remaining cash from the $450 withdrawal into her savings account. By what dollar amountwill the country's money supplychange as a result ofJane's actions?

Change inM1: $ HOW MUCH

Change inM2: $ HOW MUCH