When the government reduces its restrictions on immigration,
a. the prices of goods rise because the demand for goods increases
b. immigration is reduced
c. labor mobility is reduced
d. wage differentials become narrower
e. all workers are better off
D
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If the single-input producer choice set is fully convex, the first order conditions of the profit maximization problem are necessary but not sufficient for identifying the profit maximizing production plan.
Answer the following statement true (T) or false (F)
If Southwest Airlines borrows $20 million from a bank to finance the renovation of their corporate offices, this is an example of
A) a stock market transaction. B) a bond market transaction. C) direct finance. D) indirect finance.
Moderate exercise is better than none, but excessive exercise is harmful. What is the shape of the graph of health benefits versus hours of exercise per week if health benefits are measured on the vertical axis and exercise is measured on the horizontal axis?
a. a positively sloped straight line b. a negatively sloped straight line c. a vertical straight line d. a U-shaped curve e. a hill-shaped curve
Which of the following will shift the demand curve for milk?
a. change in the income of buyers of milk b. change in the price of milk c. change in input prices for milk d. All of the above are correct.