Which of the following helps explain why more people don't immigrate to rich countries?
A. It's difficult due to the immigration restrictions of rich countries.
B. The language barrier is too great.
C. Educational degrees are not recognized.
D. The strain of leaving some family behind is too stressful.
A. It's difficult due to the immigration restrictions of rich countries.
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A possible market solution that a reputable firm can engage in when faced with the lemons problem is
A) to offer a warranty. B) to engage in externalities. C) to create asymmetric information. D) to use average cost pricing.
If an economy is operating at a point inside the production possibilities curve,
a. its resources are not being used efficiently. b. the curve will begin to shift inward. c. the curve will begin to shift outward. d. This is a trick question because an economy cannot produce at a point inside the curve.
The product of nominal GDP and the GDP deflator equals the real GDP of a country
a. True b. False Indicate whether the statement is true or false
In the late 1800s, Bernard made buggy whips. Their quality was such that people came from hundreds of miles to buy the whips. As mechanized transportation developed, horse-drawn buggies largely disappeared and so did the demand for Bernard's whips. Would Bernard have been better off if these new modes of transportation had never been invented?