1. Fill in the following table considering the US economy. If the factors in the first column change as indicated, in which direction will the variables in the remaining columns change (i.e., rise (+), fall (-), stay the same (0))?Consider only the immediate and direct effects of these changes. (No need to give explanations here)

Impact	Total Reserves	Excess Reserves	Monetary Base
Government decreases taxes
Central bank increases its discount rate, and decreases its lending to commercial banks
Central bank decreases the required reserve ratio
Central bank buys foreign currencies in the foreign exchange market to decrease the value of its own currency

b. If the Brazil's central bank intervenes in the foreign exchange market to keep the Real(BRL) from rising against the USD, then, as a result, Brazil's monetary base will ________ (rise, fall, stay the same, cannot determine - choose one), the level of the Brazilian central bank's international reserves will ______________ (rise, fall, stay the same, cannot determine - choose one), and Brazil's real interest rate will ___________ (rise, fall, stay the same, cannot determine - choose one).

c. Denmark is currently in the European Union, but not in the Eurozone. Its currency, the Krone (DKK), is fixed to the Euro. So, if the nominal exchange rate of the DKK is fixed (0.15 EUR/DKK), then the DKK's real exchange rate (1. cannot change because, or 2. can depreciate if - choose 1. or 2., and explain your answer)_________________________