Suppose that the desired reserve ratio is 8%, currency in circulation is $610 billion, the amount of chequable deposits is $900 billion, and excess reserves are $13 billion. The money supply is $ billion. (Round your response to the nearest whole number.) The currency deposit ratio is . (Round your response to three decimal places.) The excess reserves ratio is -(Round your response to three decimal places.) The money multiplier is . (Round your response to two decimal places.) Suppose the central bank conducts an unusually large open market purchase of bonds held by banks of $1,400 billion due to a sharp contraction in the economy. Assuming the ratios you calculated in the previous steps are the same, the money supply should to $ billion. (Round your response to the nearest whole number.) Suppose the central bank conducts the same open market purchase as in the previous step, except that banks choose to hold all of these proceeds as excess reserves rather than loan them out, due to fear of a financial crisis. Assuming that currency and deposits remain the same, the new amount of excess reserves is $ billion. (Round your response to the nearest whole number.) The new excess reserves ratio is .(Round your response to two decimal places.) The money supply is $ billion. (Round your response to the nearest whole number.) The money multiplier is (Round your response to two decimal places.)