If the central bank wants to lower the policy rate, what open-market operation would be appropriate? Assume that the open-market operation that you indicated in part (b) is equal to $10 million. If the required reserve ratio is 0.2, calculate the maximum change in the money supply throughout the banking system. Show your work. Indicate the effect of the open-market operation that you indicated in part (b) on the nominal interest rate. Assume that the central bank's action results in some inflation. What would be the impact of the open-market operation on the real rate of interest? Explain