Assume that the banking system has total reserves of $100 billion. Assume also that requ ired reserves are 10 percen t of ch ecking deposits an d t hat banks hold no excess reserves and households hold no currency. 3.1) What is the money multiplier? What is the money supply? 3.2) If the Fed now raises required reserves to 20 percent of deposits, what are the changes in reserves and in the money supply