Total Reserves $80,000,000; Reserve Requirement 5%; Total Deposits $700,000,000.

7. Using the data above, the level of excess reserves is

a. $ 4,000,000 b. $ 45,000,000 c. $ 70,000,000 d. not ascertainable

8. The data above exemplify

a. an arguable underutilization of resources, at least for the moment

b. an excess reserve position

c. a near-term likelihood that loans and deposits will expand

d. all of the above