One important consequence of migration is:
A. demographic shifting in both countries.
B. population growth in both countries.
C. remittances received by sending countries.
D. increased output in receiving countries.
Answer: C
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The price of coffee rose 50 percent and coffee sales fell 25 percent. Doughnut sales also fell 25 percent. From this information, we can conclude that
A. demand for coffee is inelastic. B. coffee and doughnuts are complements. C. the cross elasticity of demand is minus 0.5 percent. D. All of the responses are correct.
The above figure shows the market for a given product. Defining welfare as consumer surplus plus producer surplus, calculate the social welfare associated with perfect competition, single-price monopoly, and a perfect-price-discriminating monopoly
Which market structure(s) maximize social welfare?
An increase in the wage rate will cause the labor supply curve to shift to the right
a. True b. False
When a resource is being depleted and becomes scarce, the market's way of encouraging conservation is for the price of the resource to rise, without any government intervention
a. True b. False Indicate whether the statement is true or false