If the Fed makes an open market sale of $1 million of securities to a bank, how do the bank's reserves and excess reserves change? How do bank deposits and the quantity of money change?
a) Reserves increase; excess reserves decrease; bank deposits decrease; quantity of money decreases
b) Reserves decrease; excess reserves decrease; bank deposits increase; quantity of money decreases
c) Reserves decrease; excess reserves increase; bank deposits decrease; quantity of money increases
d) Reserves increase; excess reserves increase; bank deposits increase; quantity of money increases