One effect of immigration is to:
A. Decrease a nation's total output and productive capacity
B. Make capital resources less scarce relative to labor
C. Decrease economic efficiency on a worldwide basis
D. Increase the wage bill in a nation experiencing immigration if the demand for labor is elastic
D. Increase the wage bill in a nation experiencing immigration if the demand for labor is elastic
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Use the figure below to answer the following question.
If the output level is Q1, then there is missing surplus indicated by the area
A. 0abe. B. ecf. C. 0eQ1. D. bce.
What does a firm's short-run total product curve show and what is its significance?
What will be an ideal response?
The best economic theory is the one
a. whose assumptions most closely match reality b. that yields the most accurate predictions c. that most simply represents reality d. that most closely matches the conscious behavior of economic decision makers e. that includes the most details
Refer to the information for this hypothetical economy provided in Table 20.2 below to answer the question(s) that follow.Table 20.2 2014 2015 2016QuarterIIIIIIIVIIIIIIIVIIIIIIIVOutput98949010210510811010397949090Refer to Table 20.2. Which of the following quarters would we most expect to be associated with high unemployment?
A. the first quarter of the year 2014 B. the third quarter of the year 2015 C. the first quarter of the year 2015 D. the third quarter of the year 2016