Explain the role of the following in correcting 'deficient demand' in an economy: 
Open market operations.

Open Market Operations (OMO) refer to the buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system. To curtail deficit demand, the central bank purchases securities in the open market. With purchase of securities, the central bank pumps in additional money into the economy. With the additional money the level of Aggregate Demand in the economy increases. Thus, the deficit demand is corrected.