If stricter immigration laws are imposed and many foreign workers in the United States are forced to go back to their home countries,
A) we will move down along the long-run aggregate supply curve.
B) we will move up along the long-run aggregate supply curve.
C) the long-run aggregate supply curve will shift to the right.
D) the long-run aggregate supply curve will shift to the left.
D
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Give some examples of transactions in markets which are not regulated or controlled
What will be an ideal response?
Economist Robert Fogel has estimated that by the year 2040, individuals in the United States will be spending
A) more time in the workforce and more time in leisure activities than they do today. B) less time in the workforce and less time in leisure activities than they do today. C) more time in the workforce and less time in leisure activities than they do today. D) less time in the workforce and more time in leisure activities than they do today.
One of the chief advantages of exchange rate pegging is that ________
A) a country is able to pursue an independent monetary policy over the course of the business cycle B) it can be an effective means of reducing inflation C) the currency can be used to promote export growth D) it allows the monetary authorities to actively respond to the problems of inflation and unemployment
Specialization of labor refers to the
a. use of more skilled versus unskilled labor b. division of labor c. opportunity costs of using labor d. law of increasing costs associated with labor e. comparative advantage of labor-using economies