Every year, the U.S. allows 500,000 people from developing countries to immigrate to the U.S. permanently, which means:

A. many people resort to immigrating illegally.
B. it has a lower rate of acceptance than admission rates to the most competitive U.S. colleges.
C. there is a severe surplus, since 13.6 million apply to enter the U.S.
D. All of these statements are true.


Answer: D

Economics

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Refer to Figure 2-1. Along the production possibilities frontier, the most efficient point of production depicted is:

A. Point B B. Point C C. Point D D. All points on the production possibilities frontier are equally efficient.

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If the MRP of labor decreases, labor:

A. demand will decrease. B. demand will increase. C. supply will increase. D. supply will decrease.

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Assume that in year 1 you pay an average tax rate of 20 percent on a taxable income of $20,000. In year 2, you pay an average tax rate of 25 percent on a taxable income of $30,000. Assuming no change in tax rates, the marginal tax rate on your additional

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