A bank has excess reserves of $4,000 and demand deposit liabilities of $100,000 when the required reserve ratio is 20 percent. If the reserve ratio is raised to 25 percent, the bank's excess reserves will be

Your income will increase if the Federal Reserve buys a Treasury bill from you and pays you with a check from the Fed

Indicate whether the statement is true or false

According to the research of economic historians, Southern farms

(a) realized the gains from regional specialization in the production of cotton, tobacco, sugar and rice. (b) used the gang system to increase the production of slaves. (c) were far larger, on average, than farms in the North. (d) were all of the above.