What are open market operations what is the effect on the, Financial Management

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What are open market operations what is the effect on the

1. What are open market operations? What is the effect on the monetary base of an open market purchase?

2. Use a T-account for Bank of America and a T-account for the Fed to show the result of the Fed buying $1 million in Treasury bills from Bank of America.

3. What is the difference between the monetary base and the nonborrowed monetary base?

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