Consider the following data (where all values are in billions of dollars):

Calculate the values for each period for the currency-to-deposit ratio, the ratio of total reserves to deposits, the monetary base, the money multiplier, and the M1 money supply. Can you explain why the currency-to-deposit ratio and the ratio of total reserves to deposits moved as they did between 1930 and 1932?

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June 1930 June 1931 June 1932 $3.681 $3.995 $4.959 Currency Checkable deposits Bank reserves 21.612 19.888 15.490 3.227 2.829 3.307