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3. Money and Banking: of 3.7%: Tracy deposits $2,000 in her checking account at her local bank. The bank maintains a reserve ratio a. If every time the bank makes a loan, the loan results in a new checking deposit in a different bank equal to the amount of the loan, by how much could the total money supply in the economy expand in response to Tracy's initial cash deposit of $2,000? (3 points) b. By how much would total money supply expand if Tracy holds $220.00 of the $2,000 in cash? (3 points) 4. Demand for money: How will the following two events affect the demand for money at any given fixed interest rate? Briefly explain why. a. Economy experiences an inflationary period (a rise in overall level of prices). (4 points) b. An increase in level of Real GDP as the economy picks up. (4 points)