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Suppose Daniel makes a $10000 deposit to Chase bank. The reserve ratio set by the Federal Reserve is 20% (1) 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 Assests LIABILITIES Figure 1: T-Account of Chase Bank (2) How does the money supply change when Daniel does this? How does the monetary base change? 2 points (3) Suppose Chase makes as many loans as it legally can; depict Chase Bank's T account after these changes. 3 points. (4) How does the money supply change when Chase Bank does this? How does the monetary base change? 2 points (5) If this new loan is eventually fully deposited back into the banking system, and each subsequent deposit is eventuallyfully loaned back out, and so on, how much does the money supply change, in total, as a resu It of Daniel's deposit, and what will be the balance sheet of the entire banking system (including Chase Bank)? 5 points. (6) Finally, suppose the Federal Reserve Sells a $1,500 Treasury bill to Daniel, which he buys by writing a personal check. Depict the effect this will have on Chase Bank's T-Account. What will Chase be required to do, after paying out Daniel's personal check? 5 points. (7) How does the money supply change when Daniel does this? How does the monetary base change? 5 points.