In an economy which produces two goods X and Y, using two inputs L and K, efficient input use occurs when

Compared to high-income countries, low-income countries might have an advantage in achieving greater worker productivity because low-income nations have:

a. many opportunities to make use of existing technologies b. an abundant supply of natural resources. c. an abundant supply of skilled and unskilled labor. d. more entrepreneurial opportunities than high-income countries.

Suppose Trust Bank purchases government bonds worth $55 million. If the bank does not want to reduce its reserves, _____

a. it should start giving more loans b. it should stop giving new loans c. it should raise the discount rate d. it should lower the minimum required ratio