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A3) If the Bank of England's desired intermediate target is a monetary aggregate, then its policy instrument will most likely be a(n) variable like the

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A3) If the Bank of England's desired intermediate target is a monetary aggregate, then its policy instrument will most likely be a(n) variable like the A) interest rate; one-year T-bill rate B) reserve aggregate; monetary base C) interest rate; federal funds rate D) reserve aggregate; narrow money supply M1 Explain your answer and based on the conduct of monetary policy in practice

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