Refer to the given figure and assumptions. How many illegal immigrant workers will be hired at equilibrium?
(1) Employers in this market are willing and able to ignore minimum wage laws;
(2) S d represents the supply of domestic-born (and legal immigrant) workers; (3) S t represents
the total supply of workers in this labor market (S d plus illegal immigrants); and (4) unless
otherwise stated, illegal immigration is not effectively blocked by the government.
A. 200,000.
B. 250,000.
C. 350,000.
D. 450,000.
A. 200,000.
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When a nation exports a good, its ________ surplus decreases and its ________ surplus increases
A) consumer; total B) consumer; consumer C) producer; producer D) producer; consumer E) total; consumer
One difference between a perfectly competitive market and a monopolistically competitive market is that
A) there is no product differentiation in monopolistic competition. B) there are no barriers to entry in monopolistic competition. C) there is no product differentiation in perfect competition. D) there is strategic interaction among firms in monopolistic competition. E) there are no barriers to exit in monopolistic competition.
From 1989 to 2013, the share of wealth for the top 3% of wealth holders in the United States
A. increased by almost 10 percentage points. B. remained roughly the same. C. increased by more than 45 percentage points. D. decreased by about 8 percentage points.
The principal effect of unemployment insurance on the entire U.S. economy is
a. that it spreads the costs of unemployment. b. that it eliminates the social costs of unemployment. c. that it reduces the social costs of unemployment. d. the reduction in the federal debt.