In the specificfactors model, labor migration from Mexico to the United States will cause _________ in U.S. lowskilled wages and _________ in Mexican low skilled wages.
a. increases; decreases
b. increases; increases
c. decreases; decreases
d. decreases; increases
Ans: d. decreases; increases
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In the above table, the efficient quantity of brownies is produced when the price of a brownie is equal to
A) 0. B) 40¢. C) 60¢. D) 80¢.
Suppose that equilibrium in the dollar-pound market occurs where 300 million pounds are demanded at a price of $1.65 per pound. If the current exchange rate is $1.80 per pound, there is will be a(n)
a. rightward movement along the supply of British pounds curve b. leftward movement along the supply of British pounds curve c. rightward shift of the supply of British pounds curve d. leftward shift of the supply of British pounds curve e. increase in the exchange rate
The effects of borrowing by the federal government would be studied by a microeconomist rather than a macroeconomist
a. True b. False Indicate whether the statement is true or false
Refer to the graph below for a purely competitive firm. When the firm is in equilibrium in the short run, its average fixed cost is:
A. EH
B. DE
C. DH
D. DB