Why would a high-wage nation oppose immigration?
What will be an ideal response?
A high-wage nation may oppose the immigration of foreign workers because it will tend to reduce the wages and incomes of native-born workers. This is the reason why labor unions in the United States are not likely to favor increases in immigration quotas.
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The figure above shows supply curves for soft drinks. Suppose the economy is at point a. A decrease in the price of sugar used to make soft drinks is shown as a movement from point a to a point such as
A) none of the points that are illustrated. B) point b. C) point c. D) point d.
When producing a good creates pollution, an external cost, and the government imposes a tax equal to the marginal external cost, then
A) the amount of output moves farther away from the efficient amount. B) transaction costs will be high. C) the efficient amount of the good will be produced. D) property rights must have already been established.
If a monopolistically competitive firm is earning profits in the short run:
A. barriers to entry will allow the firm to enjoy them in the long run as well. B. it is acting like a perfectly competitive firm. C. other firms have an incentive to enter the market. D. it should leave the industry before it gets competed away.
Increases in the capital stock: a. Shift the short run aggregate supply curve to the right
b. Shift the long run aggregate supply curve to the right. c. Shift both short run and long run aggregate supply curves to the right. d. Do none of the above