The SIMPLEX financial system is characterized by a required reserves ratio of 11 percent; initial excess reserves are $1 million, and there are no currency or other leakages. a. What would be the maximum amount of checkable deposits after deposit expansion, and what would be the money multiplier? $1X11%=.11 1,000,000 X .11= 110,000 b. How would your answer in (a) change if the reserve requirement had been 9 percent? 1 X 9%=.09