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Explain the Impact of Each of the Following Upon Chartered

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Explain the impact of each of the following upon chartered bank reserves: (a) the Bank of Canada sells government bonds in the open market to private buyers; (b) the chartered banks reduce their indebtedness to the Bank of Canada.


Definitions:

U.S. Nationalism

A sense of pride, patriotism, and devotion to the United States, often emphasizing the importance of national unity and sovereignty.

Western Hemisphere

The half of the Earth that lies west of the Prime Meridian (which crosses Greenwich, London, England) to the International Date Line, comprising the Americas and their surrounding waters.

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