The skills, training, and education possessed by workers contribute to economic growth
A. by increasing saving.
B. by increasing the quality of labor.
C. by increasing the quantity of labor.
D. by increasing real wages.
Ans: B. by increasing the quality of labor.
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If bank depositors in the U.S. suddenly decided to withdraw in currency everything in their checking accounts, commercial banks would
A) be better off because their legally required reserves would decline. B) be unable to meet their demands and would become insolvent. C) borrow the required Federal Reserve notes to meet the requests for currency. D) give them the currency held in their vaults as backing for the checking accounts. E) refuse to honor their requests for 30 days.
When a U.S. investor buys a bond issued in a foreign country,
A) the balance on the current account decreases. B) the balance on the capital account decreases. C) the balance of trade decreases. D) the balance on the financial account decreases.
The hope of "Reaganomics"—that ending inflation will stimulate economic growth—is supported by the experience of 1945–49
Indicate whether the statement is true or false
Richard's indifference curve for two goods (bread and butter) is L-shaped, whereas Kate's indifference curve for the same two goods is convex. We can infer that _____
a. Kate considers bread and butter to be perfect substitutes b. Kate considers bread and butter to be perfect complements c. Richard considers bread and butter to be perfect substitutes d. Richard considers bread and butter to be perfect complements