Question

The four main tools of monetary policy are

A. tax-rate changes, the discount rate, open-market operations, and the federal funds rate.

B. tax-rate changes, change in government expenditures, open-market operations, and interest on excess reserves.

C. the discount rate, the reserve ratio, interest on excess reserves, and open-market operations.

D. changes in government expenditures, the reserve ratio, the federal funds rate, and the discount rate.