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Recall the Application about the Fed increasing bank reserves during the financial crisis in 2008 to answer the following question(s) . During the height of the financial crisis in September 2008, The Fed injected large amounts of reserves into banks, and in the next month, they started paying interest to banks on these reserves. Prior to this time, banks earned no interest on either required or excess reserves.
-According to the Application, the Fed started paying interest to banks on reserves. Since this change has occurred,
Average
The central value of a set of numbers, calculated by dividing the sum of all the numbers by the count of numbers.
Extreme Scores
Data points that are significantly higher or lower than the majority of the data set.
Individual Income
Refers to the total amount of money received by an individual from all sources before taxes or deductions.
Median
The middle value in a set of data when arranged in ascending order.
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