The Economics of Money, Banking, and Financial Markets 10th Edition by Frederic Mishkin

تمرين 24

Unless otherwise noted, the following assumptions are made in all questions: The required reserve ratio on checkable deposits is 10%, banks do not hold any excess reserves, and the public's holdings of currency do not change.
"The Fed can perfectly control the amount of the monetary base, but has less control over the composition of the monetary base." Is this statement true, false, or uncertain? Explain.