The Fed wants to increase the money supply (which is currently$7,000) by $250. The money multiplier

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The Fed wants to increase the money supply (which is currently$7,000) by $250. The money multiplier is 3, and people hold nocash. For each 1 percentage point the discount rate falls, banksborrow an additional $10. Explain how the Fed can achieve its goalsusing the following tools: a. Change the reserve requirement.     
Instructions: Enter yourresponse rounded to the nearest whole number.     The Fed should (lower or raise) the reserverequirement to ______ percent. b. Change the discount rate.     
Instructions: Enter yourresponse rounded to two decimal places.     The Fed should (raise or lower) the rate by_____ percentage points. c. Use open market operations.     
Instructions: Enter yourresponse rounded to two decimal places.     The Fed should (buy or sell) $________worth of bonds. . . .

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