Answer the following statements true (T) or false (F)
1. In recent years, immigration has contributed an insignificant amount to the U.S. population growth.
2. The main driver of economic immigration is the opportunity to improve earnings and living standards.
3. The majority of international migrants move to countries relatively close to their home countries because close proximity reduces the cost of the move relative to anticipated benefits.
4. Other things equal, larger wage differences between nations tend to increase the flow of immigration toward the country with higher wage opportunities.
1. F
2. T
3. T
4. T
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According to new growth theory, as technology becomes more important to growth, so does
A) increasing taxes. B) human capital. C) military spending. D) increasing trade barriers.
"If the money supply rises by $1 billion, GDP will rise until it alone increases the quantity of money demanded by $1 billion." This describes the situation when
A) an IS curve shifts against a horizontal LM curve. B) an IS curve shifts against a vertical LM curve. C) a vertical LM curve shifts against an IS curve. D) a horizontal LM curve shifts against an IS curve.
ATC always exceeds AVC
Indicate whether the statement is true or false
Which of the following most accurately states the function of middlemen?
a. Middlemen add to the expense of buyers and sellers without providing any benefit. b. Our economy would work just as well without middlemen since they do not expand the availability of physical goods. c. Middlemen reduce the number of transactions since they increase the buyer's price and reduce the seller's net revenue. d. Middlemen create value by arranging trades and providing information to buyers and sellers.