Migration from poor to rich countries hurts poor countries through
a. loss of educated individuals
b. residents sending money abroad to migrants
c. tightening job markets at home
d. opening executive jobs to workers from developed countries
e. all of the above
A
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As a result of Lehman’s collapse, real GDP first began to fall in
A. the fourth quarter of 2007. B. the second quarter of 2008. C. the third quarter of 2008. D. the first quarter of 2009.
If consumption is $340 and saving is $20, then disposable income
A. Is $320. B. Is $360. C. Is $340. D. Cannot be determined from the information given.
Diminishing marginal utility implies:
A. as the consumption of a good increases marginal utility decreases. B. as the consumption of a good increases marginal utility increases. C. as the consumption of a good increases total utility decreases. D. as the consumption of a good increases total utility increases.
Milton Friedman attributed the Great Depression primarily to
A) the government's failure to respond to an increase in the budget deficit. B) a reduction in the money supply. C) economists' and policy-makers' failure to acknowledge their limited knowledge. D) the failure of wages to rise. E) inaccurate expectations by consumers and firms.