The Federal Reserve wants to change the nominal interest rate from 7% to 5%. What action must the Federal Reserve take? A) The Fed needs to increase the quantity of money by $0.4 trillion. B) The Fed needs

The Federal Reserve wants to change the nominal interest rate from 7% to 5%. What action

must the Federal Reserve take?
A) The Fed needs to increase the quantity of money by $0.4 trillion.
B) The Fed needs to decrease the quantity of money by $0.4 trillion.
C The Fed needs to decrease the quantity of money by $1.3 trillion.
D) The Fed needs to increase the quantity of money by $1.3 trillion.

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