What will an increase in the bank rate likely lead to when the SRAS is relatively steep? O a small increase in real GDP and a large increase in the price level O a small drop in real GDP and a large drop in the price level O a large drop in real GDP and a large drop in the price level a small drop in real GDP and a small increase in the price level A bank's assets consist of $1 000 000 in total reserves, $2 100 000 in loans, and a building worth $1 200 000. Its liabilities and capital consist of $3 000 000 in demand deposits and $1 300 000 in capital. If the bank desires to keep reserves equal to one-third of deposits, what is the level of the bank's excess reserves and how much money could the excess reserves be used to create in the banking system as a result? O Excess reserves are $300 000 and could be used to create $300 000 in the banking system. O Excess reserves are zero and could not be used to create any money in the banking system. O Excess reserves are $700 000 and could be used to create $2 100 000 in the banking system. O Excess reserves are $300 000 and could be used to create $900 000 in the banking system