Scholarly estimates of the impact of immigration on the average American wage rate are in the range of:
A. -3% to +2%
B. -3% to -2%
C. -1% to +3%
D. -5% to +1%
A. -3% to +2%
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One of the key outcomes of the 2010 mid-term elections was that
A. a national sales tax was created and replaced the income tax. B. 1986 tax increases were repealed in 2011. C. iraqi oil revenues were taxed by the U.S. to provide care for disabled Iraqi War veterans. D. 2003 tax cuts were continued for everyone through the end of 2012.
Federal Reserve districts
A) conform to state boundaries. B) group together economically similar states. C) have equal populations. D) cut across state and economic boundaries.
Assuming the economy represented in the graph shown is currently at point B, if the government does nothing, then eventually:
A. SRAS will shift to the right, and the economy will have Y3 output with lower prices.
B. SRAS will shift left, and the economy will experience stagflation.
C. LRAS will shift left, until lower equilibrium output is reached with lower prices.
D. the entire economy will collapse.
When the housing bubble popped, the effect of the negative demand side shock and the negative supply side shock were the same on:
A. output, causing it to definitely decrease. B. prices, causing them to definitely rise. C. output, causing it to definitely increase. D. prices, causing them to definitely fall.