3. Suppose Daniel makes a $15,000 deposit to Chase bank. The reserve ratio set by the Federal Reserve is 8% (a) Depict the effect on Chase Bank's T-account when Daniel deposits this money, before any new loans are made. Identify both required and excess reserves. 3 points. Chase Bank's Balance Sheet Assets Liabilities Figure 1: T-Account of Chase Bank (b) How does the money supply change when Daniel does this? How does the monetary base change? 2 points. (C) Suppose Chase makes as many loans as it legally can; depict Chase Bank's T account after these changes. 3 points Chase Bank's Balance Sheet Assets Liabilities Figure 2: T-Account of Chase Bank (a) How does the money supply change when Chase Bank does this? How does the monetary base change? 2 points (e) If this new loan is eventually fully deposited back into the banking system, and each subsequent deposit is eventually fully loaned back out, and so on. Calculate the balance sheet of the entire banking system (including Chase Bank. 3 points. Banking System's Balance Sheet Assets Liabilities Figure 3: T-Account of the entire banking system (f) How much does the money supply change, in total, as a result of Daniel's initial deposit? 2 points