intermediate target, an operating target, or a monetary policy tool
State whether each of the following variables is most likely to be a goal, an intermediate target, an operating target, or a monetary policy tool:
a. M2
b. Monetary base
c. Unemployment rate
d. Open market purchases
e. Federal funds rate
f. Nonborrowed reserves
g. M1
h. Real GDP
i. Discount rate
j. Inflation rate
intermediate target, an operating target, or a monetary policy tool

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