3. For (a)-(d), Assuming that the economy is in equilibrium with zero borrowed reserves to start with, use the GRAPHICAL analysis of equilibrium in the reserves market to predict changes in non-borrowed reserves, borrowed reserves, and the federal fund rate. (For this question only, if there are multiple scenarios, description of one of the possible outcomes is sufficient.) a. The Fed conducts open market sale of securities; b. The Fed abolishes the discount window; c. The Fed reduces the discount rate; d. The Fed pays interest on reserves (for (d), assuming that the Fed does not pay interest on reserves to start with)