Question: Can someone please help me with this question. We were given the following figures. Monetary item Values Notes and coins in circulation $5 millions All

Can someone please help me with this question. We were given the following figures.

Monetary item Values

Notes and coins in circulation $5 millions

All the notes and coins issued by the central bank $7 millions

Demand deposits $12 millions

Short-term deposits (less than 6 months) $20 millions

Long-term deposits (more than 6 months) $36 millions

Consumer credit card outstanding balances $15 millions

Estimated velocity of circulation 150 times a year

Estimated quantity of money $20 millions

Price index at year 2020 125

Estimated currency drain ratio 0.25

Estimated desired reserve ratio 0.15

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we are required to calculate M1 and M2.

we're also required to use the theory of the quantity theory of money to calculate the real GDP.

as well as to calculate and interpret the money multiplier.

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