A firm might offer efficiency wages to reduce worker turnover and thereby reduce production costs
a. True
b. False
Indicate whether the statement is true or false
True
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What is the reason that all economic issues and problems occur?
A) All nations use some form of money to buy and sell goods and services. B) People seek only their own self-interest. C) Powerful governments are able to control production and consumption. D) Human wants exceed the resources available to satisfy them. E) Humans are always wasteful and inefficient in production and consumption.
A member of the Board of Governors of the Federal Reserve is appointed by
a. Congress for 12 years. b. the President, with the advice and consent of the Senate, for a 14-year term. c. the President, for life. d. members of the House of Representatives for a 10-year term.
In the market for Canadian dollars measured in US dollars, the demand for Canadian dollars is
a. The supply of Canadian dollars b. The demand for US Dollars c. The supply of US dollars d. None of the above
Which of the following is most likely to increase the potential output of an economy?
What will be an ideal response?