Recall Application 2, "The Growth in Excess Reserves" to Answer

Recall Application 2, "The Growth in Excess Reserves" to answer the following questions:
-According to the application, prior to 2007, banks earned:

A) the fed funds rate on both the excess and required reserves.
B) two percent on excess reserves and the fed funds rate on the required reserves.
C) no interest on required or excess reserves.
D) interest on excess reserves, but none on required reserves.