The Council of Economic Advisers have found that skilled immigrants in the U.S. do all of the following, except:
A. Boost the technical capabilities of U.S. firms
B. Pay less in taxes than they absorb in government services
C. Make major innovative contributions in science, medicine, and engineering
D. Augment the supply of health-care providers in the U.S.
B. Pay less in taxes than they absorb in government services
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Which of the following is true from the perspective of the New Keynesian school of thought?
a. Fluctuations in private spending does not affect aggregate demand in an economy. b. Investment spending remains relatively constant irrespective of the supply shocks. c. Fluctuations in aggregate demand are not the primary source of problem for policymakers. d. The government should limit its role to administrative functions. e. Monetary and fiscal policies often fail to restore macroeconomic equilibrium.
Imagine that someone offers you $100 today or $200 in 10 years. You would prefer to take the $100 today if the interest rate is
a. 4 percent. b. 6 percent. c. 8 percent. d. All of the above are correct.
Pharmaceutical development provides a good example of rent-seeking behavior, the pursuit of which results in _______.
a. lower economic activity by diverting resource to less-productive uses b. lower prices throughout the economy c. increased economic activity by promoting efficiency d. a more equitable distribution of income and wealth e. greater income and wealth in the private se
Bob's Barber Shop cut 3,000 heads of hair in 2014 and 3,100 in 2015. The price of a haircut was $7 in 2014 and $8 in 2015. If 2014 is the base year, what was Bob's contribution to nominal GDP in 2015?
A. $21,000 B. $24,800 C. $24,000 D. $21,700