Migration of educated individuals from developing- to developed countries is referred to as the
a. survival of the fittest
b. demographic transition
c. disguised unemployment
d. brain drain
e. none of the above
D
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Mike owns a car worth $20,000, and that is his only wealth. There is a 10 percent chance that Mike will have an accident within a year. If he does have an accident, his car is worthless. What is Mike's expected wealth?
What will be an ideal response?
A tax that causes the price that producers receive for a commodity to deviate from the buyer's price is
A. an unit tax. B. a compensated tax. C. an income tax. D. a price-distorting tax.
Which of the following variables can be used to measure labor productivity?
A. number of workers B. number of labor hours C. real GDP D. all of these
Suppose there was a debate regarding how to spend $1 billion in newly found revenues in the budget. Suppose the most liberal Democrat suggests an increase to Food Stamp (SNAP) allotments. Suppose the most conservative Republican suggests an increase in defense spending. The Democrat says that, on average, Food Stamp spending does the most good, so more is better. The Republican is arguing that the extra security purchased by the extra spending will increase well-being the most. What is going on here?
A. Only the Democrat is using marginal analysis. B. Neither are using marginal analysis. C. Only the Republican is using marginal analysis. D. Both are employing marginal analysis, just from different perspectives.