1. What is the primary determinant of changes in reserves on the banking system? 2. What leads to expansion and contraction of reserves in the banking system? 3. How do discount loans lead to expansion and contraction of liquidity in the banking system? 4. How do changes in the four tools of monetary policy affect the federal funds rate? 5. When the Federal Reserve was created, what was its most important role? 6. What are the three types of discount loans the fed makes to banks? 7. What is a potential cost of the Fed being a lender of last resort? 8. Why was reserve requirements been rarely used by the Fed? 9. Why does the Fed set the discount rate higher than the federal funds rate? 10. What are the four Nonconventional Monetary Policy tools? 11. What are the five goals of monetary policy? 12. What are the advantages and disadvantages of inflation targeting? 13. How can economies of scale help explain the existence of financial intermediaries? Please respond in short anything, not really long paragraphs. Thank you