Question 28 (1 point) Banks use their excess reserves to satisfy the government requirement that a certain percentage of checkable deposits be kept on hand. how their customers that they are responsible an will be able to turn money over when demanded. make new loans to customers. make other banks think that this bank is more prosperous than it really is. Question 29 (1 point) When the Fed buys a U.S. bond in the open market it affects total reserves but not the money supply. it contracts total reserves and the money supply. it expands total reserves and the money supply. it has no effect on total reserves or the money supply since the check it receives increases reserves at one bank but reduces them at another. Question 30 (1 point) M2 includes M1 and near monies True False