Assume that an economy, in which all deposits issued by commercial banks are demand deposits, is characterized by the following information:
Ratio of currency to demand deposits: 0.20
Required reserve ratio (ratio of required reserves to demand deposits): 0.10
Excess reserve ratio (ratio of excess reserves to demand deposits): 0.05
Total monetary base: $100 billion
Calculate the values of the M1 multiplier and of the total stock of M1.