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Need help ASAP Figure 1 Assets Liabilities Total Reserves $30,000 Deposits $200,000 Required Reserves $20,000 Owner's Equity $0 Excess Reserves $10,000 Loans $170,000 1. The

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Figure 1 Assets Liabilities Total Reserves $30,000 Deposits $200,000 Required Reserves $20,000 Owner's Equity $0 Excess Reserves $10,000 Loans $170,000 1. The simple balance sheet in Figure 1 above reflects the financial position for First G$ Bank in the sovereign state of Gallimoria. a. What is the required reserve ratio in Gallimoria? 30, 000 200, 000 = 15 %% b. Assume Taylor and Lana spend a combined $20,000 using funds in their checking accounts with First G$ Bank. i. By how much will GS Bank's total reserves change based on their withdrawals? ii. What is the initial effect of both withdrawals on the MI measure of the money supply? Explain. iii. What, based on the reserve ratio determined in part (a), is the new value of excess reserves on First G$ Bank's balance sheet after Taylor and Lana's use of their checkable funds? c. As Taylor and Lana's use of their checkable funds would initially leave First G$ Bank unable to meet its reserve requirement, identify at least one action First G% Bank could take to rectify its financial position

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