2. You want to remodel your kitchen and the builder estimates it will cost $50,000. You start with $15,000 in your bank account. You get a loan from a commercial bank for $45,000 and they deposit the $45,000 into your account so that your total balance is now $60,000. You write a check to the builder for $50,000 and so have $10,000 left over for your other expenses. The builder then deposits the $50,000 into their bank account and remodels your kitchen. a Show the changes this causes on the three main balance sheets of the economy. Be sure to write both the account name and the dollar amount increased or decreased. If there is no change for a particular part, write "No Change" (5 points) The Federal Reserve System Assets Liabilities Commercial Banks Households & Firms b. How much has the total money supply of the economy changed because of your kitchen loan? That is, how much has M2 increased or decreased due to your kitchen loan? (2 points) 2. You want to remodel your kitchen and the builder estimates it will cost $50,000. You start with $15,000 in your bank account. You get a loan from a commercial bank for $45,000 and they deposit the $45,000 into your account so that your total balance is now $60,000. You write a check to the builder for $50,000 and so have $10,000 left over for your other expenses. The builder then deposits the $50,000 into their bank account and remodels your kitchen. a Show the changes this causes on the three main balance sheets of the economy. Be sure to write both the account name and the dollar amount increased or decreased. If there is no change for a particular part, write "No Change" (5 points) The Federal Reserve System Assets Liabilities Commercial Banks Households & Firms b. How much has the total money supply of the economy changed because of your kitchen loan? That is, how much has M2 increased or decreased due to your kitchen loan? (2 points)