The linkage between high productivity and high earnings is vitally important because
a. it provides individuals with a strong incentive to develop skills and engage in activities that others value highly.
b. high productivity (a large output per hour worked) is the key to high living standards.
c. it brings the self-interest of individuals into harmony with economic progress.
d. all of the above are true.
D
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Refer to Table 9-3. If the required reserve ratio is 10% and the market interest rate is 6%, then the opportunity cost of holding excess reserves is
A) zero since Alpha-Beta does not hold any excess reserves. B) $0.9 million. C) $2.4 million. D) $4 million.
On the graph above, the amount of inventory depletion will be greatest if the economy is moving from point ________ to point ________
A) A; D B) D; A C) D; C D) B; A E) B; C