Using the supply and demand analysis of the market for reserves, indicate what happens to the Central Bank rate, borrowed reserves, and non-borrowed reserves, holding everything else constant,, under the following situations:

(a)The economy is surprisingly strong, leading to an increase in the amount of checkable deposits.

(b) Banks expect an unusually large increase in withdrawals from checking deposit accounts in the future.

(c) The Central Bank raises the interest rate on reserves above the current equilibrium Central Bank funds rate.

(d) The Central Bank reduces reserve requirements.

(e) The Central Bank reduces reserve requirements and then offsets this action by conducting an open market sale of securities.