8. Consider the following two statements and determine whether they are true or false: I. A negative interest rate policy is one that sets a negative interbank rate so as to encourage banks with less funding from those that have surplus funding, so that the former can make more loans.~ II. One reason for the Federal Reserve to provide interest on bank reserves was to help it shrink the size of its balance sheet after quantitative easing. A. I is true, II is false. B. I is false, II is true.~ C. Both I and II are true.~ D. Both I and II are false. 9. Consider the following two statements and determine whether they are true or false: I. Given that state-owned banks tend to make loans to state-owned enterprises, a lower reserve requirement ratio in China will increase both the quantity and quality of bank loans.~ II. Financial repression in China ensured that all borrowers could raise funds at cheaper costs, which stimulated investment and growth.~ A. I is true, II is false.~ B. I is false, II is true. C. Both I and II are true.~ D. Both I and II are false