Money supply M1 does not include the currency held by:

A textile manufacturing unit faces low productivity due to shirking by workers. Which of the following is a possible solution to increase productivity and retain employees?

A) The provision of a lower real wage B) The provision of a lower nominal wage C) The provision of minimum wages D) The provision of efficiency wages

If production point is inside the production possibilities frontier

A) it is not possible to produce more of both goods. B) production is inefficient. C) in order to produce more of one good, less of the other must be produced. D) production is in the "unattainable" region.