Please indicate whether the following statements are True, False or Uncertain (1 mark). Support your answers with detailed justifications (2 marks).

8) Open market purchases increase the money base and money multiplier.

9) Through the use of discount policy, a central bank can exercise complete control on the supply of reserve in an interbank market.

10) The definition of M1 typically includes the total amount of currency outstanding in a financial system and the total amount of demand deposits.