Refer to Figure 7.1. Start from initial equilibrium. If the economy experiences increased immigration, the new real wage could be ________ and the new amount of labor employed could be ________
A) X; C B) Y; A C) Z; C D) Z; A
A
You might also like to view...
Does inflation result from increases in aggregate demand, short-run aggregate supply, or long-run aggregate supply?
What will be an ideal response?
Marginal utility is defined as the
a. average amount of satisfaction gained from consuming a good b. total amount of satisfaction gained from consuming a good c. additional satisfaction gained from consuming one more unit of a good d. total amount of satisfaction gained from consuming a product divided by the number of goods consumed e. total amount of satisfaction gained from consuming a good times the number of goods consumed
The secular trend growth rate is the:
A. difference between actual output and the average growth in the economy. B. rate of growth in per capita output in any one year. C. rate of growth in any one year. D. rate of growth of potential output.
A "market" is an arrangement that allows people to exchange things.
Answer the following statement true (T) or false (F)