1. If one says that our current dollar GDP today is $19.25 trillion, that statement would be an example of using money as:

a store of value.

a standard of value/unit of account.

a medium of exchange.

standard of deferred payments

2. Assume that the Fed announces that it was raising the federal funds rate target. To accomplish this, the Fed would most likely:

merely make the announcement--

raise reserve requirements

buy securities on the open market

sell securities on the open market