(Consider This) According to the Council of Economic Advisers:
A. skilled immigrants regularly displace domestic-born workers.
B. skilled immigrants pay more in taxes than they receive in services from the government.
C. immigration is a net drain on the U.S. economy and should be more tightly restricted.
D. children of immigrants frequently lack the skills to perform well academically, particularly in
math and science.
Answer: B
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A firm in monopolistic competition makes its decisions on quantity and price by
A) taking price as given from the market and producing where MR = MC. B) taking both price and quantity as given from the market. C) producing where MR = MC and setting the price for this quantity from the demand curve. D) taking quantity as given from the market and setting the price for this quantity from the demand curve. E) producing where MR = MC and setting the price so that P = MR = MC.
The Marginal Cost curve will
a. cut ATC at the minimum of ATC but cut AVC at a point to the left of the minimum of AVC. b. cut ATC at the minimum of ATC but cut AVC at a point to the right of the minimum of AVC. c. cut AVC at the minimum of AVC but cut ATC at a point to the left of the minimum of ATC. d. cut AVC at the minimum of AVC but cut ATC at a point to the right of the minimum of ATC. e. cut both ATC and AVC at their respective minimums
Refer to Figure 2.1. If you are producing 600 tons of agricultural products per year, what is the maximum amount of manufactured products you can produce per year?
A. 300 tons B. 500 tons C. 600 tons D. 700 tons
The degree to which an asset can be acquired or disposed of without much danger of any intervening loss in nominal value is known as
A. liquidity. B. a time deposit. C. transaction deposits. D. the opportunity cost of holding cash.