c$.$ Prior to $2008,$ did the Fed actively manage the supply of reserves?

A$.$ Yes, since this was a scarce$-$reserves regime period, the Fed actively managed reserves.

B$.$ No$,$ the Fed never actively manages reserves$-$it only controls the interest rate.

C$.$ Yes, the Fed always actively manages reserves$-$it changes interest rates to affect reserve balances.

D$.$ No$,$ since this was a scarce$-$reserves regime period, there was no ability to affect reserve demand.