87: Raising the reserve ratio:

• A) increases the discount rate.
• B) decreases the amount of excess reserves banks must keep.
• C) changes excess reserves to required reserves.
• D) decreases the discount rate.

90: A trade surplus implies that:

• A) imports of goods exceed exports of goods.
• B) exports of goods exceed imports of goods.
• C) exports of services exceed imports of services.
• D) imports of services exceed exports of services.

97: The protection against dumping argument for tariffs is criticized:

• A) because there are too few documented cases to justify permanent tariffs.
• B) because direct subsidies are probably a better means of stimulating such industries.
• C) because it is difficult to determine which industries merit protection.
• D) for all of these reasons.