Immigration tends to lower the income of all factors of production. True or false
Indicate whether the statement is true or false
False. Immigration tends to lower the wages of workers who substitute directly for the immigrants. Non-competing factors would tend to gain.
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In the classical model, the level of real GDP per year does not depend on the level of aggregate demand.
Indicate whether the statement is true or false.
Two workers are employed in the same job by the same firm; however, they are paid different wage rates. This could be explained by differences in
a. the income effect b. the price of the firm's output c. their marginal products due to differences in ability d. working conditions e. risk
Nations that borrow from abroad to support current consumption:
A. will always be better off in the future. B. will always sacrifice future consumption. C. may sacrifice future consumption. D. will always sacrifice current consumption.
The American Federation of Labor was formed in 1886 as a dissident group from the
A) Knights of Labor. B) Knights of Pythias. C) Masonic Lodge. D) Knights of Columbus.