Identify at least two non-economic reasons used by critics to support their concerns about illegal immigration
What will be an ideal response?
First illegal immigration shows that laws can be broken and undermines general respect for the law in the United States. Second, illegal immigration is unfair to those who follow the legal system and legally wait for their right to live and work in the United States. Finally, illegal immigration, especially that of criminals and terrorists, may compromise national defense and homeland security.
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A sharp rise in the real value of stock prices, which is independent of a change in the price level, would best be an example of ________.
A. a change in the degree of excess capacity B. a change in real value of consumer wealth C. the interest-rate effect D. the real-balances effect
"Demand" refers to the relationship between the price of a good and the quantity consumers are willing and able to buy at each price
Indicate whether the statement is true or false
The general equilibrium analysis of a minimum wage applied to only some sectors of the economy suggests that
A) workers in all sectors will face increased wages. B) some workers in the covered sectors will lose their jobs and remain unemployed. C) some workers originally employed in the covered sectors will move to the uncovered sectors, driving down wages in the uncovered sectors. D) all workers will be worse off.
The oligopoly market structure model is characterized by:
a. many firms in an industry producing differentiated products. b. many firms in an industry producing identical products. c. few firms in an industry with natural barriers to entry. d. a single firm in an industry with barriers to entry. e. many firms in an industry with barriers to entry.