When the Federal Reserve sells government bonds to the public, it directly
a. increases the M1 money supply and increases the reserves of the commercial banking system.
b. increases the M1 money supply, while reducing the reserves of the commercial banking system.
c. reduces the M1 money supply, while increasing the reserves of the commercial banking system.
d. reduces the M1 money supply and decreases the reserves of the commercial banking system.
D
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By charging the equilibrium price for shared rides as opposed to the government-regulated price charged by traditional taxi companies, Uber has
A) increased deadweight loss. B) decreased producer surplus. C) increased consumer surplus. D) decreased consumer surplus.
Suppose in a democratic society, all voters prefer choice G over choice B; however, when the two choices are presented along with a third choice, R, B wins the election. This violates the assumption of
A) transitivity. B) non-dictatorship. C) independence of irrelevant alternatives. D) completeness.