Refer to Figure 17-6. Under Scheme I
A) workers signal their productivity to the firm by consistently selling above 30 vacuum cleaners.
B) the incentive to increase productivity only occurs for sales of fewer than 20 vacuum cleaners or more than 30 vacuum cleaners.
C) workers compete with each other to see who can sell more than 20 vacuum cleaners in the shortest possible time.
D) workers have no incentive to sell more than 30 vacuum cleaners.
D
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"The velocity of circulation is the average speed with which money is loaned to businesses and households." Is the previous statement correct or incorrect?
What will be an ideal response?
A bank has excess reserves of $6,000 and demand deposit liabilities of $100,000 when the required reserve ratio is 20 percent. If the reserve ratio is raised to 25 percent, the bank's excess reserves will be
A) -$5,000. B) -$1,000. C) $1,000. D) $5,000.