The Money Multiplier. For this question c denotes the ratio of currency to deposits, p denotes the ratio of required reserves to deposits, and e denotes the ratio of excess reserves to deposits. (a) Express the money multiplier m in terms of c, p, and e (b) Suppose that: c = 0.6 p 0.1 0.02 Find the value of the money multiplier m. If the Fed's objective were to have a money supply equal to $1 trillion, then how large would the monetary base need to be. The Money Multiplier. For this question c denotes the ratio of currency to deposits, p denotes the ratio of required reserves to deposits, and e denotes the ratio of excess reserves to deposits. (a) Express the money multiplier m in terms of c, p, and e (b) Suppose that: c = 0.6 p 0.1 0.02 Find the value of the money multiplier m. If the Fed's objective were to have a money supply equal to $1 trillion, then how large would the monetary base need to be