7. Assume that banks lend out all their excess reserves, and that all money is held as checking accounts. For each of the following scenarios, what is the value of the money multiplier? How much money will be created ( or destroyed)? a. The initial increase in excess reserves is $400,000 and the required reserve ratio is 10%. b. The initial increase in excess reserves is $400,000 and the required reserve ratio is 12% c. The initial decrease in excess reserves is $200,000 and the required reserve ratio is 10%