According to the economist Julian Simon:
A. Legal immigrants have a favorable impact on the welfare of American citizens, but illegal immigrants have a negative impact that almost exactly offsets the positive effect of the legal immigrants.
B. Legal and illegal immigrants have a positive effect on the welfare of American citizens.
C. Legal and illegal immigrants have a negative effect on the welfare of American citizens.
D. Legal immigrants have a favorable impact on the welfare of American citizens, but illegal immigrants have a negative impact. However, the positive effect of the legal immigrants is stronger than the negative impact of illegal immigrants.
B. Legal and illegal immigrants have a positive effect on the welfare of American citizens.
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Determine whether each of the following outputs is considered an intermediate good, a final good, or neither for purposes of calculating GDP in the current year
a. New tires put on a new Corvette at Big O Tire store b. The net sales price of a home built in 1990 when it is resold in 1997 c. The commission earned by a stock broker on the sale of stock d. The net price that is paid for 1000 shares of stock in Dell
The demand for current consumption, as plotted against current income, shifts to the right due to all of the following except
A) a decrease in current taxes. B) a decrease in future taxes. C) an increase in current income. D) an increase in future income.
The existence of differences between the average earnings of men and women
a. proves the existence of economic discrimination. b. may be partially due to factors other than economic discrimination. c. proves that men on average invest more in their human capital than women do. d. indicates that men are on average smarter than women.
A major macroeconomic leakage from the circular flow is:
a. Consumption b. Savings c. Saving d. Gross private domestic investment e. All of the above.