Consider a banking system where the Federal Reserve uses required reserves to control the money supply. (This was the case in the U.S. prior to
2008.) Assume that banks do not hold excess reserves and that households do not hold currency, so the only form of money is demand deposits. To
simplify the analysis, suppose the banking system has total reserves of $300. Determine the money multiplier and the money supply for each reserve
requirement listed in the following table.