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1. Pure Gold Suppose the Federal Reserve decides to sell to the public $1 million worth of the gold sitting its vaults in New York.

1. Pure Gold Suppose the Federal Reserve decides to sell to the public $1 million worth of the gold sitting its vaults in New York. a) Illustrate this sale on the typical balance sheet of the Central Bank. b) How would the sale of gold affect the U.S. money supply

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