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Under traditional monetary policy with limited reserves, an open market sale will cause Borrowed reserves to fall and the Fed Fund Rate to rise Nonborrowed
Under traditional monetary policy with limited reserves, an open market sale will cause
| Borrowed reserves to fall and the Fed Fund Rate to rise |
| Nonborrowed reserves to rise and the Fed Fund Rate to fall |
| Borrowed reserves to rise and the Fed Fund Rate to fall |
| Nonborrowed reserves to fall and the Fed Fund Rate to rise |
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