Holding Everything Else Constant,if the Federal Funds Rate Falls,then the Demand

Multiple Choice

Holding everything else constant,if the federal funds rate falls,then the demand for

A) excess reserves falls because they have a lower return.
B) excess reserves rises because they have a lower cost.
C) required reserves rises because the cost of borrowing from the Fed is relatively higher.
D) required reserves rises because the cost of borrowing from the Fed is relatively lower.
E) reserves will not change because the Fed sets the level of required reserves.