Labor productivity depends on the
a. quality of the labor
b. the amount of capital
c. the amount of natural resources
d. the amount of other inputs, such as technology
e. All of the answers are correct
E
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Referring to the table above, the present discounted value of initial wealth plus total income is ________
A) $67,308 B) $71,200 C) $70,400 D) $68,462
The cost of holding money balances increases when
a. the inflation rate decreases. b. the nominal interest rate increases. c. the nominal interest rate decreases. d. nominal GDP is far from full employment.
Chidi’s government only repairs roads that are in the very worst condition. Bridge collapses are not unheard of. The government’s infrastructure policy will likely ______ economic growth.
a. stop b. hinder c. have little impact on d. promote
For a given level of reserves, a decrease in the reserve requirement ratio will
A) decrease legal reserves and decrease the money supply. B) increase legal reserves and decrease excess reserves C) decrease legal reserves and increase excess reserves. D) decrease excess reserves and decrease the money supply.