The central bank in a country released the following statistics. Total deposits in banks amounted to $ 500 million, notes and coins outside banks reached $ 100 million and reserves of banks held at the central bank amounted to $50 million. Use these figures to calculate the following:(8 Marks)

1. Calculate the quantity of money (the money supply)

2. Calculate the monetary base

3. Calculate currency drain ratio

4. Calculate the reserve ratio

5. Calculate the money multiplier