29 Jul Macroeconomics 2301Fall 2018HW #340 points1. Given the foll
Macroeconomics 2301Fall 2018HW #340 points1. Given the following balance sheet for Bank Y, complete the questions below: AssetsLiabilities Cash and Deposits with Fed 100Checkable Deposits 200 Loans 20Net Worth 100 Bank Property and Assets 50 Investments 130Assume a 20% reserve requirement:1.How much do banks have in excess reserves?2.How much is the additional maximum quantity of money that could be created?3. If the Fed buys $5 billion in securities from the public and it is deposited in commercial banks, how can the money supply change?2. A.The quantity theory of money argues that the long-run price levels move in proportion to changes in the money supply. Answer the following questions based upon that assumption:a. Money Supply (M) 2000Price level (P) 10Quantity (Y) 500 Calculate the velocity of money for this data.B. Based on the quantity theory of money assumptions, what would happen if the money supply increased to 2200?
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