Which of the following is not correct?
a. High-skilled immigration has many economic benefits.
b. Each year in the United States, about one-third of the people earning a PhD. in science or engineering are foreign born.
c. Low-skilled immigration lowers the earnings of native-born workers by 10-20 percent.
d. Illegal immigrants may pay less in taxes, but they also are ineligible for many government benefits.
c
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Intraindustry trade refers to
A) international trade of products made within the same industry. B) international trade of products made across different industries. C) trade that occurs as a result of comparative advantage. D) the exchange of non-similar items. E) trade that occurs mostly within developing countries.
Assume a perfectly competitive firm is producing 500 units of output, P = $7, ATC of the 500th unit is $6, marginal cost of the 500th unit = $7, and AVC of the 500th unit = $5. Based on this information, the firm is:
A) earning an economic profit of $500. B) earning an economic profit of $1,000. C) incurring a loss of $500. D) incurring a loss of $1,000.
Trade contributes to prosperity because:
A. every country lacks some vital resources that it can get economically only by trade. B. each country's climate makes it a relatively efficient producer of some goods, and an inefficient producer of other goods. C. each country's labor force makes it a relatively efficient producer of some goods, and an inefficient producer of other goods. D. all of the above.
The likelihood ratio statistic is given by:
A. LR = (log-likelihoodunrestricted + log-likelihoodrestricted) B. LR = 2 × (log-likelihoodunrestricted + log-likelihoodrestricted) C. LR = (log-likelihoodunrestricted- log-likelihoodrestricted) D. LR = 2 × (log-likelihoodunrestricted- log-likelihoodrestricted)