The average fiscal burden on state and local government for each low-skilled immigrant household may be as high as:
A. $5,500 per household per year
B. $9,200 per household per year
C. $19,500 per household per year
D. $31,600 per household per year
C. $19,500 per household per year
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If the price of a U.S. government bond is? $50 and the owner of the bond is entitled to? $2.50 income each? year, then the interest rate on the bond is? ______.
Catherine is risk averse. When faced with a choice between a gamble and a certain level of wealth, she will
A) always prefer the gamble. B) always prefer the certain level of wealth. C) prefer the gamble if the expected utility from it is higher than the utility from the certain level of wealth. D) prefer the certain level of wealth if the expected utility from the gamble is higher than the utility of the certain level of wealth.
Other things constant, the price elasticity of demand for a product will be smaller (more inelastic) if:
a. people spend a large share of their income on the product. b. people spend an insignificant share of their income on the product. c. the population in the market area is large. d. there are many good substitutes for the product.
In order to calculate consumer surplus in a market, we need to know willingness to pay and price
a. True b. False Indicate whether the statement is true or false