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Suppose that the economy is in a recession, and this is causing high unemployment. In response, the Federal Reserve decides to do expansionary monetary policy

Suppose that the economy is in a recession, and this is causing high unemployment. In response, the Federal Reserve decides to doexpansionarymonetary policy by using open market operations. They begin by buying bonds. What happens next? Describe all the steps ofexpansionarymonetary policy, from the beginning (buying bonds) to the final result.

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