A "backflow" refers to:
A. Unauthorized aliens who enter an industrialized nation looking for work
B. Legal aliens who enter an industrialized nation looking for work
C. Migrants who enter a series of industrialized nations looking for work
D. Migrants who repeatedly return to their home countries after seeking work in another country
D. Migrants who repeatedly return to their home countries after seeking work in another country
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When economists say the quantity demanded of a product has decreased, they mean the
a. demand curve has shifted to the left. b. demand curve has shifted to the right. c. price of the product has fallen, and consequently, consumers are buying more of it. d. price of the product has risen, and consequently, consumers are buying less of it.
Surplus
What will be an ideal response?
Using Figure 1 above, if the aggregate demand curve shifts from AD3 to AD2 the result in the short run would be:
A. P3 and Y1. B. P2 and Y1. C. P2 and Y3. D. P1 and Y2.
For levels of disposable income to the left of the point where consumption intersects the 45-degree line
A. Saving is negative. B. Disposable income exceeds consumption. C. Saving equals disposable income. D. Consumption equals disposable income.