QUESTION 8 How did the Federal Reserve manage reserves during 'normal times' with conventional policies before 2008? O The Federal Reserve implemented large scale asset purchases and forward guidance. O The Federal Reserve changed the interest on reserves it pays to banks. O The Federal Reserve lowered or raised the opportunity cost (the fed funds rate) of reserves through open market operations (buying or selling short term govern bonds). O The Federal Reserve adjusted the money multiplier directly in financial markets leading to more or less reserve accumulation. QUESTION 9 urities what will happen to reserves