Refer to the below graphs. (Assume that the pre-migration labor force in Country A is 100 and that it is 150 in country B.) The migration of labor will:
A. Increase wages in country A and decrease wages in country B
B. Decrease wages in country A and decrease wages in country B
C. Decrease wages in country A and increase wages in country B
D. Increase wages in country A and increase wages in country B
A. Increase wages in country A and decrease wages in country B
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If production is given by Q = KsLb, (a + b < 1) doubling both inputs
a. more than doubles output. b. exactly doubles output. c. increases output but does not double it. d. leaves output unchanged.
Because the personal income tax is an automatic stabilizer,
A. inflationary gaps are impossible. B. the budget deficit grows during a recession. C. the deficit needed to cure a recessionary gap increases. D. the structural deficit grows during a recession. E. all of the above are correct.
An advantage of the corporate form of business organization is
A) unlimited liability. B) easier access to capital. C) that profits are taxed only on one level. D) government supervision of its activities.
Which of the following is one of the widely-acknowledged problems with the consumer price index (CPI) as a measure of the cost of living?
What will be an ideal response?