A legitimate concern about illegal immigration is that it:
A. Tends to lead to higher product prices
B. Has a negative fiscal impact on local and state governments
C. Causes a one-for-one reduction in employment for legal residents
D. Causes the average wage level in the U.S. to fall
B. Has a negative fiscal impact on local and state governments
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Consumption spending includes:
a. durable goods, nondurable goods, and housing. b. durable goods, nondurable goods, and imports. c. durable goods, services, and housing. d. durable goods, nondurable goods, and services. e. nondurable goods, services, and housing.
When there is no cyclical unemployment, the overall rate of unemployment is ____ percent.
Fill in the blank(s) with the appropriate word(s).
With a quantity restriction, the total surplus of the market increases. On the contrary, with a licensing restriction, the total surplus decreases.
Answer the following statement true (T) or false (F)
Economists refer to the actions people take after they have entered into a transaction that makes the other party to the transaction worse off as
A) bad faith. B) economic inefficiency. C) moral hazard. D) market failure.