(Solved): The Federal Reserve buys $40.00 million in Treasury securities. If the required reserve ratio is 30 ...

The Federal Reserve buys $\$40.00$ million in Treasury securities. If the required reserve ratio is $30.00\%$, and all currency is deposited into the banking system. and banks hold excess reserves of $10\%$, then the maximum amount the money supply can increase is $\$$ million. (Insert your answer in millions; if you think the answer is $\$30$ million, just enter 30 . Round your answer to two decimal places.) Part 2 (0.5 pt) See Hint The Federal Reserve sells $\$44.00$ million in Treasury securities. If the required reserve ratio is $30.00\%$, and all currency is deposited into the banking system, and banks hotd excess reserves of $10\%$, then the maximum amount the money supply can decrease is $\$$ million. (Insert your answer in millions, and round your answer to two decimal places.)