Rank the three traditional tools of monetary policy in order of importance.

• Discount rate [ Select ] ["1", "2", "3"]
• Open market operations [ Select ] ["3", "1", "2"]
• Reserve requirements [ Select ] ["1", "2", "3"]

b) Rank the non-conventional tools of monitoring the federal funds rate in order of importance.

• Interest rate on bank reserve balances [ Select ] ["2", "3", "1"]
• Interest rate on bank term deposits [ Select ] ["2", "3", "1"]
• Interest rate on overnight reserve repurchase agreements [ Select ] ["3", "2", "1"]