Refer to the given figure and assumptions. It suggests that:
(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. illegal immigrant workers are in this market because these are jobs that domestic-born
workers are unwilling to do.
B. employment of domestic-born workers could be increased by 20,000 if illegal immigration
were blocked.
C. the presence of illegal immigrants in this labor market reduces wages, making these jobs
less attractive to domestic-born workers.
D. firms hiring from this labor market would be forced to shut down if illegal immigration were
blocked.
C. the presence of illegal immigrants in this labor market reduces wages, making these jobs
less attractive to domestic-born workers.
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If the nominal exchange rate between the American dollar and the New Zealand dollar is 1.36 New Zealand dollars per American dollar, how many American dollars are required to buy a product that costs 3.50 New Zealand dollars?
A) $2.14 B) $2.24 C) $2.57 D) $4.76
As economic growth rises, literacy rates tend to fall
a. True b. False Indicate whether the statement is true or false
There are approximately ______ banks in the U.S
a. 8,000. b. 2,000. c. 100,000. d. 25,000. e. 4,000.
Personal and corporate income taxes are automatic stabilizers because
a. they generate approximately the same revenues during prosperity and recession b. tax rates decrease more during prosperity than during recession c. tax rates increase more during prosperity than during recession d. they take more income out of the economy during prosperity than during recession e. they take less income out of the economy during prosperity than during recession