Please answer 7-9

Gradebook Email Live Doc Sharing Dropbox Journal Weblography Tech Support sum of reserves of depository institutions plus currency outstanding most nearly defines: (Points: 2.5) net transactions balances the monetary base O excess reserves net free reserves 8. Which of the following statements is NOT true? (Points: 2.5) O National banks must be members of the Federal Reserve System O State banks may be, but are not required to be, members of the Federal Reserve System Only member banks may borrow from the Fed's discount windows O The Board of Governors sets reserve requirements for both member banks and non-members alike none; all are true statements 9. "Money in the banking system that is counted twice, because of delays in processing checks" best describes a phenomenon (or account) called: (Points : 2.5) the monetary base deferred availability cash items Ofloat Federal Reserve credit 10. Which of the following is not considered money? (Points : 2.5) Federal Reserve notes credit cards