1
“The Only way that the Fed can affect the level of borrowed reserves is by adjusting the discount rate.” Is this statement true, false, or uncertain? Explain your answer.
题目翻译过来时：“美联储可以影响贴现贷款水平的唯一方法是调整贴现率”这种说法是对，错，还是不确定？

我的答案是这样的哦：
It is false. There are two other ways, open market control and reserve requirement, can affect the level of borrowed reserves. An open market purchase or a decrease the reserve requirement can cause the federal funds to fall and if the federal funds rate is below the discount rate, then banks will not borrow form the Fed and borrowed reserves will be zero.
但其实心里有小小疑问，因为borrowed reserve 好像是随着贴现率的移动而移动的耶。。。。。。不确定了。。。。。。

2
If there is a switch from deposits into currency, what happens to the federal funds rate? Use the supply and demand analysis of the market for reserves to explain your answer.

我不知道那个switch from deposits into currency到底是影响了demand 中的required reserves or excess reserves，还是影响了supply中的nonborrowed reserves or borrowed reserves？怎么影响的？

希望不吝赐教！！！！！！！！感激万分！！！！！！！！！！！！