Which of the following is a true statement about recent immigrants to the U.S.?
a. Approximately one-third of immigrants over 25 lack a high school diploma.
b. Nearly half of immigrants are from various countries in Asia.
c. Approximately two-thirds of immigrants are employed in high-tech jobs.
d. Most immigrants have the education and skills of the existing U.S. population.
a. Approximately one-third of immigrants over 25 lack a high school diploma.
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An increase in supply will cause the equilibrium price to ________ and the equilibrium quantity to ________
A) increase; increase B) increase; decrease C) decrease; increase D) decrease; decrease
The circular flow shows that GDP measures
i. total income. ii. total expenditures. iii. price changes. A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii
In the new classical model, workers and firms try to keep their real wages and relative prices from falling when ________
A) income falls B) they expect inflation to rise C) they expect inflation to fall D) they expect aggregate demand to fall
In Country X, the government requires employers to collect 9 percent of every employee's compensation as payroll tax. This is an example of
a. progressive tax. b. regressive tax. c. digressive tax. d. proportional tax.