If the required reserve ratio is 12 percent, currency in circulation is $550 million, checkable deposits are $700 million, and excess reserves total $0.8 million, then calculate the following: (round to four decimal places) 1. Simple money multiplier: 2 Assume that the initial deposit in a bank is $200. Using the above money multiplier, what is the final increase in money supply? 3. Currency ratio: 4 Excess reserve ratio: 5 True money multiplier G Total reserve Monetary base 6. Total reserve: 7. Monetary base: 8. Money supply