4 . You are a member of the Federal Reserve Board. Your econometric model indicates that the MD curve has a slope approaching zero (0) . Write a brief memo to Chairman Volker telling him what monetary policy you recommend and why. Be sure to use graphs. (8 ) 5. At the point of maximum lending by commercial banks, excess reserves = ? (value) Explain fully. (7) 7. Giver that the government has used expansionary fiscal policy to correct a recessionary situation: a) What happens to MID? What happens to i? (5) b) Will we remain at GDP F. E. Fully explain