Native-born workers may not be harmed by immigration if:
A. They are complementary resources to immigrant workers
B. They are substitute resources to immigrant workers
C. Demand for their labor is elastic
D. Immigrants remit their earnings to their home countries
A. They are complementary resources to immigrant workers
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Suppose the natural rate of unemployment is 5 percent. If the actual unemployment rate is 4 percent, then the cyclical unemployment rate is
A) -1 percent. B) 1 percent. C) 9 percent. D) 0 percent as cyclical unemployment cannot be less than zero.
For a competitive firm, the value of the marginal product:
A. increases for each additional worker. B. remains constant across workers. C. decreases for each additional worker. D. is zero when profits are maximized.
Crises that occasionally hit financial markets will increase the demand for money since:
A. the risk of holding money relative to other financial assets decreases. B. the return on financial assets increases. C. the return on money increases. D. there is no risk with holding money.
Which of the following will cause the LM curve to shift to the left?
A. A decrease in the average price level B. An exogenous decrease in money demand C. A contractionary monetary policy D. A reduction in the interest rates