If the elasticity of demand for labor in the United States is unitary, immigration into the United States can be expected to:
A. increase the average U.S. wage rate.
B. decrease the total amount of wage earnings that U.S. workers receive.
C. increase the total amount of wage earnings that U.S. workers receive.
D. leave the total amount of wage earnings that U.S. workers receive unchanged.
Answer: D
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Few bother to think about what makes Florida oranges show up daily in South Dakota supermarkets, but the people of South Dakota are likely to think a great deal about this. Why does someone take the time and energy to assure that oranges that are grown in Florida move more than 1,000 miles before they appear on grocery shelves?
What will be an ideal response?
You turn to the Treasury bond market page of a newspaper and look under the column headed "Bid" and see that it says, "125:8" this indicates that
A. the price that the buyer is willing to pay for this bond is $125.08. B. the price that the buyer is willing to pay for this bond is $1,252.50. C. the price that the seller is willing to sell this bond for is $125.80. D. the price that the seller is willing to sell this bond for is $125.08.
An increase in the marginal propensity to hold money
a. results in an fall in the interest rate and a decline in income. b. raises the interest rate and lowers income. c. results in a fall in the interest rate and a rise in income. d. raises both the interest rate and income.
International trade can make some individuals within a country worse off, even as it makes the country as a whole better off
a. True b. False Indicate whether the statement is true or false