Globalization raises the standard of living of all countries
Indicate whether the statement is true or false
True
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If the actual reserve/deposit ratio equals 8% and the desired reserve/deposit ratio for this bank is 10%, the bank should:
A. send the extra reserves to the central bank. B. stop making loans. C. make more loans in order to earn interest. D. do nothing because this is a profitable situation.
In the labor market, an increase in labor productivity ________ the real wage rate and ________ the level of employment
A) raises; increases B) raises; decreases C) lowers; increases D) lowers; decreases
Price indexes allow us to convert __________ measures of output into _________ measures of output, because an increase in that would mean economic growth.
A. nominal; real B. real; nominal C. perceived; real D. nominal; perceived
The law of diminishing marginal returns describes changes in output when inputs change
Indicate whether the statement is true or false