More economic growth is not necessarily better unless the benefits of growth:
A. exceed the costs of growth.
B. increase average labor productivity.
C. increase human capital.
D. increase real GDP per capita.
Answer: A
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Suppose the central bank of Altoska has raised its reserve requirements from 10 percent to 12 percent. If Trust Bank, a commercial bank, finds that it is not holding enough in reserves to meet the higher requirements, then it is likely to: a. increase its excess reserves
b. buy bonds to increase the size of its reserve assets. c. reduce the quantity of money and loans on the balance sheet. d. borrow from the central bank for a short term.
Occupational licensing:
A. functions essentially the same as inclusive unionism. B. attracts large numbers of workers and therefore depresses wages. C. often restricts occupational entry and raises the incomes of license holders. D. has been declared illegal in the majority of states.