1. Open market operations as a monetary tool Suppose that the Federal Reserve sells $1 million worth of government securities to a customer of Gold Bank. In the following balance sheets, show the effect of this transaction. (Hint: If either assets or liabilities do not exist, please select "Not Applicable" and "NA" in the drop-down menus, and type in "0" (zero) in the numeric entry fields.) Federal Reserve's Balance Sheet Assets Liabilities (Millions of Dollars) (Millions of Dollars) Gov't Securities + 10 Demand Deposits Gold Bank's Balance Sheet Assets Liabilities (Millions of Dollars) (Millions of Dollars) The Customer's Balance Sheet Assets Liabilities (Millions of Dollars) (Millions of Dollars) Grade It Now Save & Continue Continue without saving