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The screws in all OEM carbs adjust the quantity of the air/fuel emulsion. This is a common misconception. The end result, though, is that it controls the amount of fuel that passes into the intake manifold once it is blended with the air leaking through the throttle blades.
The air/fuel emulsion is fixed by the idle air bleeds in the venturi lead in and the idle fuel ports on the metering block. So you can't change that relationship without some "drillin' or fillin'.
All fuel that goes through the carburetor (except for the accelerator pump) goes in through the emulsion whether you're taling about idle or the main jet system.
With Holley I believe it depends on the exact model you have. I have a 4160 model 7770(I think) that adjusts reverse of the normal method. ie CW makes more rich. You can check the Holley website to investigate your model.