The marketing manager of Raven Golf Club finds that the club can increase its market share and become the industry leader if it slashes membership prices by 50 percent during the first quarter of the year. However, the club cannot achieve its target return on investment if it slashes its membership prices during a quarter. This conflict illustrates:

Explain whether each of the following events increases or decreases the money supply. a. the fed buys bonds in open-market operations. b. the fed reduces the reserve requirement. c. the fed increases the interest rate it pays on reserves. d. citibank repays a loan it had previously taken from the fed. e. after a rash of pickpocketing, people decide to hold less currency. f. fearful of bank runs, bankers decide to hold more excess reserves. g. the fomc increases its target for the federal funds rate.