With labor migration, the amount of change in the destination country's wage rates depends on the:
A. Original supply of labor in that country
B. Original supply of labor in the country of origin
C. Elasticity of demand for labor in that country
D. Elasticity of demand for labor in the country of origin
C. Elasticity of demand for labor in that country
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Which would most likely shift the aggregate supply curve? A change in:
a. Government spending b. Excess capacity in business c. Consumer expectations d. Prices of imported resources
If it is desirable to enhance the incomes of factors used intensively in the import-competing industry, then a tariff actually lowers national welfare.
Answer the following statement true (T) or false (F)
Refer to the graph shown. With an effective price ceiling at $3, total surplus is reduced by:
A. 100. B. 30. C. 20. D. 50.
How much labor does a firm require to produce q = 1000 when capital is fixed at 5 and they have a production function equal to q = 200L0.5K0.5?
A) L = 5 B) L = 2.5 C) L = 200 D) L = 2.25