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Type of defensive open market operations will the manager undertake if it is difficult for him to present checks for payment and so raising the float if he hears that a snowstorm is about to strike the city.
Concept Introduction:
Open market operations: It is a financial operation which includes buying and selling of securities in the open market.
Float: When Fed clears checks for the banks (from one bank to another), then the bank in which the amount is credited experiences a temporary increase in the
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Pearson eText Economics of Money, Banking and Financial Markets, The, Business School Edition -- Instant Access (Pearson+)
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