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The next two questions refer to the below information: The trading desk at the Federal Reserve bought $900 million in T-Bills. If the current reserve

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The next two questions refer to the below information: The trading desk at the Federal Reserve bought $900 million in T-Bills. If the current reserve requirement is 8%, how much will the money supply change in Millions? Please be sure to include the sign if it is relevant. If the reserve requirement were 16%, what would the change in the money supply be in millions)? Please be sure to include the sign if it is relevant. Thinking about T-accounts for the Federal Reserve System: If a bank finds it is short of reserves by $23 million toward the end of the day, how is the Fed balance sheet impacted if the bank borrows from the Fed to meet its minimum requirement? Asset category: $ change in asset category (in millions): Liability category: $ change in liability category (in millions)

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