Question 14. In the Random-Relocation model, assume each person is endowed with 50 goods whe young and nothing when old. The money stock is constant and equal to $1,000,000. Each location has a constant pOpulation with 500 peeple born in each period 15. Suppose the fraction of movers takes on either 2 values. In the smallfraction event, with probabilit .5, 5% of the population must move to the other island. In the highfraction event, with probability of 0.5, 20% of the population must move. 1. Calculate the total currency needed by movers in the event that the small fraction of movers is realized. 2. Calculate the total currency needed by movers in the event that the high fraction of movers is realized. 3. Suppose the bank holds 15% if the deposits in the form of currency. In other words 7* = 0.15. Will the bank have enough currency to meet the needs of the movers in the highfraction event?Describe how an elastic supply of currency would address the