A university's basketball gymnasium is never more than half-full during basketball games. This implies
a. the ticket price is above the equilibrium price.
b. the ticket price is below the equilibrium price.
c. the ticket price is at the equilibrium price

Looking at the average tariff rate in the United States since 1930, we see that

A) tariffs have trended downward for most of the period. B) tariffs were made illegal in the United States in 1955. C) tariff levels have remained high, at over 50 percent throughout the period. D) while we talk about free trade, tariff levels have risen over the last 30 years. E) at first tariffs declined, but have recently risen.

Refer to the data. After a deposit of $10 billion of new currency into a checking account in the banking system, excess reserves will increase by:

Answer the question on the basis of the following consolidated balance sheet for the commercial banking system. Assume the required reserve ratio is 10 percent. All figures are in billions.

A.  $0 billion.
B.  $7 billion.
C.  $9 billion.
D.  $10 billion.