Refer to the table below. If an excise tax of $3 per unit is imposed on this product, the tax revenue for the government will be:

If a bank has $10 million of checkable deposits, a required reserve ratio of 10 percent, and it holds $2 million in reserves, then it will not have enough reserves to support a deposit outflow of

A) $1.2 million. B) $1.1 million. C) $1 million. D) $900,000.

Suppose that 20,000 tickets were sold at $120 for an NBA game at Madison Square Garden in New York. The game was sold out and some fans could not get tickets. This suggests that

A) selling price was below equilibrium price. B) selling price was above equilibrium price. C) selling price was at equilibrium. D) the game was advertised too heavily.