e. A bank has $100 million in excess reserves that it wishes to lend. Through the lend-spend-deposit cycle, by how much could the money supply theoretically expand? f. List 3 reasons the actual money multiplier will be less than the theoretical maximum. 5. Go once again to FRED (St Louis Federal Reserve Bank). Excess Reserves of Depository Institutions (search within FRED). Depository institutions are mostly commercial banks. a. Customize the graph from 2005 to present. Paste a screenshot of the graph here. b. What does the graph suggest commercial bank lending prior to 2008? C. Beginning with the Great Recession of 2008, what is the trend excess reserves? d. Severe recessions began in 2008 and 2020. What do the excess reserves suggest about commercial banks' ability to loan? e. One of the Fed's first steps in response to the recession of 2020 was to lower the required reserve ratio to zero. What effect would this have on excess reserves? f. What effect would the reduction in the required reserve ratio have on commercial banks' ability to lend? g. If commercial banks have excess reserves, why aren't the banks making more loans