April 22, 2021
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April 22, 2021

Provide numerical answers for the next 7 questions (@3 pts. for 18 + 3 bonus).
Round off, if necessary, to the nearest whole dollar.
Use a comma as a separator for values in the thousands
Use a “\$” for dollar value answers.

Good types of answers:  +\$444 or -\$3,200 or -2.34 rounded to two decimal places.
Bad types of answers:  +444.25 (no \$ and not rounded off to the nearest whole dollar) or \$3200 (no + or – and no comma) or 2.3 (if to be rounded to 2 places)

#1.  If a bank has undesired excess reserves of \$300, and if rr=20%, e=15% and c=20%, what is the value of the money multiplier?  [Provide to two decimal places.]

#2.  If a bank has deposits of \$4,000 and reserves of \$1000 and if rr=25%, e=15% and c=10%, then what is the bank’s level of undesired excess reserves?  Be clear about whether this is positive or negative.

#3.  If a bank has undesired excess reserves of \$250, and if rr=15%, e=15% and c=10%, then to restore equilibrium by how much will the money supply (M1) change?  Be clear about whether this is a positive or negative change.

#4.  If a bank has undesired excess reserves of -\$450 and where e=15%, c=20%, and m*=4.8, to restore equilibrium by how much will the money supply (M1) change?  Be clear about whether this is a positive or negative change.

#5.  If a bank has \$18,500 in deposits, and \$4,300 in reserves, and if rr=15%, e=5% and c=20%, how much undesired excess reserves does the bank have?  Be clear about whether this is positive or negative.

#6.  If a bank has \$30,000 in deposits, and \$3,250 in reserves, and if rr=20%, e=2.5% and c=15%, how much currency is in circulation?  Be clear about whether this is positive or negative.

Bonus #7.  If a bank has undesired excess reserves of \$830 and where e=7%, c=8%, and m*=4.3, what is the value of the required reserve ratio (rr)?  Express in % terms, use that symbol, rounded to one decimal place. [So, 15.6% is ok, but 15% is not, nor is .156]

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