Impact of given changes on monetary base.
Compute the effect of the following events on the monetary base:
a) The Treasury prepares checks to Social Security recipients for $600 million.
b) The Federal Reserve buys a new fleet of cars for $8 million.
c) The Treasury transfers $500 million from its tax and loan accounts to its account with the Federal Reserve.
d) The Federal Reserve buys $1400 million of Treasury bills in the open market.
e) The Federal Reserve sells $1.5 billion of its German bonds for euros.