please cover all parts:

Bank Alpha starts out with the following balance sheet (figures in $millions): Assets Liabilities Loans 700 Deposits 1000 Bonds 200 Cash Reserves 100 Suppose that the required reserve ratio is 7% in an economy. The central bank decides to implement an open market operation that increases the money supply. They do so by buying 30 million worth of bonds from Bank Alpha. 1. Show what Bank Alpha's balance sheet would look like immediately following the open market operation. 2. Assume that Bank Alpha does not keep more reserves than required. How would their balance sheet change in response? (Think about how loans will be affected.) 3. Describe how the impact of this policy change would move through the banking sector, following the money creation discussion we had in class. Calculate how the overall money supply in the entire economy would be affected as a result. 4. Suppose that instead of doing a open market operation as in part (1), the Central Bank lowered the required reserve ratio to 5%. Show how Bank Alpha would respond to this change and calculate how the overall money supply in the entire economy would be affected as a result