See attached.

ll} [\"1 [iii] [W] 4. Question #4 Score II; + {3 Fred work Composition of the Monetary Base {3 points; (1.5 points per section} So in class we showed the evolution of the Monetary Base over the past decade or so. But how does it break down between currency in circulation and bank reserves? rst, upload the total monthly reserve balanoa maintained at the Fed series {FRED code = TCITRESNS], beginning in January 200}: and ending in in May 2021. 111en plot on the same graph the non-seasonally adiusted currency in circulation series (FRED code = CURRCIR}. (Remember, you use "EDIT GRAPH 1' ADD LINE" to plot a new series.} S=o you've now plotted two separate series. {The sum of the two, of course, is die Monetary Base.) Copy the graph into the space below. {- By what percentage, rounding to two decimal plaoes} did the level of bank reserves increase from the Jan 202D to Aplil 2021? (Hint: simply place the cursor over the data value and read off the figures to make this computation.] { Answer: Why were bank reserves declining from the mid20105 ll January ZDZD? [ Answer: What is the May 2021 value of Currency in Circulation? Express i1 trillions of dolars, using 3 decimal planes. [- Answer: 52.153 trillion Can we use FRED to calculate Currency in the Hands of the Public, which equals Currency in Circulation less 1v'ault Cash? Yes. But not direcy. With your graph created above, click on "Edit ljner'Add Line: and call up the series with FREDI code =TL'IJAULT, which has been discontinued. Convert the series into billions of dollars. {You already know how to do this.} Do not print out His graph! Mow, simply run the cursor over the relevant values for August mm and compute die value of currency in the hands of the public. Express your answer in billions of dollars using 3 decimal places. {