Consider the Bank of Canada's Purchase of Canadian Government Securities

Multiple Choice

Consider the Bank of Canada's purchase of Canadian government securities.What type of policy is this?  

A)  It is a contractionary policy because it lowers the amount of total reserves in the banking system. 
B)  It is a contractionary policy because it lowers the amount of excess reserves in the banking system. 
C)  It is an expansionary policy because it raises the amount of total reserves in the banking system. 
D)  It is an expansionary policy because it lowers the amount of total reserves in the banking system.