Question 17 Use the following information about Macroland to answer this question Not yet nswered larked out of Bank deposits at the central bank $100 million 1.00 Currency in bank vaults $50 million Flag Currency held by the public 75 million estion Chequeable deposits 600 million Traveller cheques 5 million a) What are bank reserves equal to in Macroland? b) Suppose banks hold no excess reserves in Macroland? What is required reserves ratio given the information in this table? c) If the public does not change its currency holdings, what will happen to the level of chequeable deposits in Macroland, relative to their initial level, if the central bank of Macroland purchases $ 10 million worth of treasury bills in the open market? d) If the public does not change its currency holdings, what will happen to the level of chequeable deposits in Macroland, relative to their initial level, if the central bank of Macroland sells $ 5 million worth of treasury bills in the open market? i B I E