The nominal rate of interest is the difference between the real rate and the expected rate of inflation.

A bank has deposits of $400, reserves of $50, and the desired reserve ratio is 7 percent. The bank's excess reserves are

A) $28. B) $50. C) $22. D) $0. E) $3.50

With regard to indentured servitude,

(a) indentured servants were typically slaves. (b) this institutional arrangement benefited all parties entering the contract. (c) this institutional arrangement restricted the supply of labor for the colonies. (d) all of the above answers are correct.