Legal immigration into the U.S. can be done through the following ways, except:
A. Annual immigration quotas
B. Refugee program
C. H1-B provision
D. Tourism visas
D. Tourism visas
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When a firm obtains market power through barriers to entry created not by the firm, but by the government, it is referred to as:
A) legal market power. B) regulated market power. C) firm-biased market power. D) differentiated market power.
Which of the following factors cause the IS curve to shift?
a. A change the money supply. b. A change in the level of taxes c. An autonomous investment change that shifts the investment function d. Both b and c e. All of the above
The profit-maximizing monopolist, faced with a negative-sloping demand curve, will always produce:
a. at an output greater than the output where average costs are minimized b. at an output short of that output where average costs are minimized c. at an output equal to industry output under pure competition d. a and c e. none of the above
If a firm is currently equating MR and MC and product price = $24, AVC = $22, and ATC = $26, then in the long run this firm:
A. will continue to operate at a loss. B. will earn a positive profit. C. will go out of business. D. should decrease price.