What is the immigration problem for DVCs?
A. Too many people are allowed to move from DVCs to IACs, and IAC policies tend to favor the movement of the most productive DVC workers
B. Too many people are allowed to move from DVCs to IACs, and IAC policies tend to favor the movement of the least productive DVC workers
C. Too few people are allowed to move from DVCs to IACs, and IAC policies tend to favor the movement of the most productive DVC workers
D. Too few people are allowed to move from DVCs to IACs, and IAC policies tend to favor the movement of the least productive DVC workers
C. Too few people are allowed to move from DVCs to IACs, and IAC policies tend to favor the movement of the most productive DVC workers
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Economic theory assumes elected representatives in government vote
A) in the public interest. B) without any interest. C) in their own interest. D) in complete harmony with the interests of the majority of citizen-voters.
List the characteristics of a monopolistically competitive market
What will be an ideal response?
Which of the following statements is not correct? a. Economic growth is best measured by the annual percentage change in nominal GDP per capita. b. An economy producing along the production possibilities curve is operating at its potential output. c. Economic growth is a crucial determinant of people's well-being
d. If the quality of labor improves, an economy's production possibilities curve will shift outward.
The primary problem with estimating elasticity of demand is that:
A. real-world changes in quantity demanded are the result of changes in price only. B. data on the quantities firms sell are unavailable. C. real-world changes in quantity demanded are the result of changes in many variables other than price alone. D. data on the prices firms charge are unavailable.