Which statement about the economic impact of immigration is true?
a. State and local governments bear most of the costs of immigration.
b. The federal budget pays the costs associated with educating immigrants.
c. Immigration tends to have a positive effect on state and local budgets.
d. Immigration tends to have a negative effect on the federal budget.
a. State and local governments bear most of the costs of immigration.
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If sales in an industry decline,
a. demand for additional labor also declines. b. demand for additional labor increases. c. demand for additional labor stays the same. d. the unemployment rate definitely falls.
If cigar prices tripled while sales of cigars rose 30 percent, this would likely be due to a shift in demand.
Answer the following statement true (T) or false (F)
Refer to the above figures. A unit tax of $2 has been levied on a good. Which of the panels depict the effect of the taxes?
A. Panel 1 B. Panel 2 C. Panel 3 D. None of the diagrams reflect the effect of the tax.
Only three goods are produced in an economy in the following amounts: A = 10, B = 30, C = 5
The current year per unit prices of these three goods are A = $2, B = $3, and C = $1. (Advanced analysis) Refer to the information. If the per unit prices of the three goods were each $1 in a base year used to construct a GDP price index, then real GDP in the current year is: A. $110. B. $115. C. $45. D. $160.