If the U.S. experiences an enormous surge of immigration, we could predict it would make the labor supply:
A. decrease and shift to the right.
B. increase and shift to the right.
C. increase and shift to the left.
D. decrease and shift to the left.
B. increase and shift to the right.
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When tastes are not quasilinear, the positive economist will introduce error into the analysis if he uses the uncompensated (rather than the compensated) demand curve to analyze changes in consumer surplus.
Answer the following statement true (T) or false (F)
A full-time student who is not working is categorized as
A) unemployed. B) employed. C) not in the labor force. D) frictionally unemployed. E) a discouraged worker.
With flexible exchange rates, perfect asset substitutability, and perfect capital mobility, expansionary monetary policy will cause
A) income to rise, interest rates to fall, and the domestic currency to depreciate. B) income to fall, interest rates to rise, and the domestic currency to appreciate. C) income to rise, interest rates to remain unchanged, and the domestic currency to appreciate. D) income to rise, interest rates to remain unchanged, and the domestic currency to depreciate.
The process by which an original increase in aggregate expenditure cycles repeatedly through the economy, thereby producing a larger result, is called the exponential effect
a. True b. False Indicate whether the statement is true or false