If total Fed assets __________, then reserves have to __________, everything else being equal

Refer to the figure above. What is the market-wide consumer surplus when the market price of wine is $9?

A) $180,000 B) $90,000 C) $60,000 D) $210,000

Which of the following is an example of a normative statement? a. The GDP growth rate has been unstable over five years

b. The tax rate should be reduced to improve the quality of life in an economy. c. The unemployment rate has been below the natural rate of unemployment in the U.S for the last 2 years. d. The inflation rate of 2015 exceeds the inflation rate of 2014.