Indians and Indian-Americans have played a pivotal role in powering Silicon Valley's digital revolution. The emigration of talented people from countries like India to countries like the United States is often called:
A. credentialism.
B. the brain drain.
C. Malthusianism.
D. outsourcing.
Answer: B
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The reason that average labor costs are higher in the United States than in Haiti is that
A) workers are more productive in the United States. B) U.S. workers have a comparative advantage. C) Haitian workers have a comparative advantage. D) Haitian workers do not have union representation.
All of the following groups benefited from immigration to the U.S. in the late 19th and early 20th century except
a. manufacturing and mining companies. b. retailers. c. railroad companies. d. unskilled native workers.
A company is producing 15,00 . units. At this output level, marginal revenue is $22 and the marginal cost is $18 . The firm sells each unit for $48 and average total cost is $40 . What can we conclude from this information?
a. The company is making a loss b. The company needs to cut production c. The company needs to increase production d. Not enough information is provided
When you specialize in a task that you do best, you are applying the:
a. law of supply. b. law of comparative advantage. c. law of demand. d. law of absolute advantage.