(All Steps) State whether each of the following variable is most likely to be a goal, an intermediate target, an operating target, or a monetary policy tool.
Question: State whether each of the following variable is most likely to be a goal, an intermediate target, an operating target, or a monetary policy tool.
- M2
- monetary base
- unemployment rate
- open market purchases
- Federal Funds rate
- non borrowed reserves
- M1
- real GDP growth
- discount rate
Deliverable: Word Document 
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