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When the Fed ________ securities in an open market operation,banks' reserves ________,and therefore lending ________.
Public Good
Nonexclusive and nonrival good; the marginal cost of provision to an additional consumer is zero and people cannot be excluded from consuming it.
Common Property Resource
A type of good consisting of natural or human-made resources where users have shared rights, often leading to problems of overuse or depletion.
Quota
A government-imposed trade restriction that limits the number, or monetary value, of goods that can be imported or exported during a specific time period.
Public Good
A product or service that is non-excludable and non-rivalrous, meaning its use by one individual does not reduce availability to others, and people cannot be effectively excluded from using the good.
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