Suppose the money supply model reflects an economy in which, at a given price level, the narrowly defined money supply (M1) in existence is $22550 million, the cash reserve ratio against demand deposits (rD) is 10%, the cash reserve ratio against term deposits (rT) is 3%, the term deposit ratio (t) is 90%, the currency/deposit ratio (c) is 25%, the idle excess reserves/deposit ratios for demand (eD) and term deposits (eT) are equal to 2% and 1% respectively.

Hint: The money supply model is

MS = MB * [(1+c+t) / (rD+rT(t)+eT(t)+eD+c)]