Refer to the information provided in Figure 28.2 below to answer the question(s) that follow.
Figure 28.2Refer to Figure 28.2. Assume that the productivity of workers decreases as the wage rate decreases. The efficiency wage
A. would be above $10.
B. could either be above or below $10.
C. would equal $10.
D. would be below $10.
Answer: A
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A) Richard Nixon in 1969 B) Jimmy Carter in 1979 C) Ronald Reagan in 1992 D) Barack Obama in 2009
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Assets Liabilities Reserves $14,000 Deposits $100,000 Loans $90,000 Net Worth $4,000 If the required reserve ratio is 10 percent, how much excess reserves does the bank have? What is the maximum amount that the bank can expand its loans?
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a. True b. False Indicate whether the statement is true or false