Because there are costs to migration:
A. complete wage equalization is unlikely to occur, even if national governments impose no restrictions on migration.
B. Migrants are more likely to move to countries far from their origin nation.
C. Migrant and domestic-born workers are unlikely to be substitute resources.
D. Wage equalization will only occur if migrant and domestic-born workers are complementary
resources.
Answer: A
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Speculators who believe the world-wide demand for cocoa products is going to increase enormously next year will cause
A) less cocoa to be consumed next year. B) less cocoa to be consumed this year. C) less cocoa to be produced next year. D) less cocoa to be produced this year. E) none of the above since speculation only affects price.
An investor who sees through irrational optimism of a market could:
A. earn a profit by betting against what everyone else is doing. B. follow the lead of what most are doing, and earn consistent profits. C. earn a profit by being a "leader" among the "herd." D. be overwhelmed by market optimism and simply do what everyone else is doing.
Which of the following is infrastructure?
a. Training and education b. Police c. Highways d. All of the answers are correct.
The Stolper-Samuelson Theorem predicts
A) the level of productivity in export industries. B) which factors are abundant. C) the income distribution effects of trade. D) which goods will be exported.