Efficiency gains from migration:
A. will tend to be greater when workers migrate from nations with high unemployment to
nations experiencing full employment.
B. imply that all workers, domestic and migrant, are financially better off as a result of
migration.
C. will tend to be greater in countries experiencing "brain drain."
D. usually benefit one nation at the expense of another.
Answer: A
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If the Federal Reserve is currently paying 1% interest on bank reserves, but then reduces that interest rate to 0.5%, banks may decide to hold ________ reserves, and the money supply may ________.
A. fewer; decrease B. fewer; increase C. more; decrease D. more; increase
Bill Gates is a founder of Microsoft and the world's richest individual. Suppose Microsoft sells more software and Mr. Gates acquires another billion dollars in wealth
Simultaneously, suppose a burglar whose income is well below average broke into Bill Gates' house and stole a million dollars' worth of antiques. Using the "it's not fair if the rules aren't fair" approach to fairness, is Mr. Gates' acquisition of additional wealth fair? Is the (poor) thief's acquisition fair?
Productivity:
a. increased slightly from 1970 to 1980. b. rose rapidly after World War II. c. is a fundamental determinant of real wages. d. All of the above are correct. e. Only b and c are correct.
Refer to the information provided in Figure 6.1 below to answer the question(s) that follow.
Figure 6.1Refer to Figure 6.1. Assume Tom is on budget constraint AC and the price of a hot dog is $2.00. Tom's monthly income is
A. $40. B. $60. C. $80. D. $100.