Other things equal, the greater the degree of complementarity between potential immigrants and native-born workers, the:
A. lower the optimal quantity of immigrants.
B. lower the marginal benefit of additional immigrants.
C. greater the marginal cost of additional immigrants.
D. greater the optimal quantity of immigrants.
Answer: D
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The figure above shows an education market in which the government is providing households with vouchers. What is the dollar value of a voucher in this market?
A) $4,000 B) $8,000 C) $12,000 D) $16,000 E) None of the above answers is correct.
A negative shock in aggregate demand will likely result in ________
A) a permanent change in output, if the central bank responds by lowering interest rates B) no permanent change in the equilibrium inflation rate, unless the central bank responds by lowering interest rates C) an eventual increase in aggregate supply for any inflation rate, if the central bank responds by lowering interest rates D) all of the above E) none of the above
If Fred's marginal rate of substitution of salad for pizza equals 5, then
A) he would give up 5 pizzas to get the next salad. B) he would give up 5 salads to get the next pizza. C) he will eat five times as much pizza as salad. D) he will eat five times as much salad as pizza.
Protecting intellectual property rights:
A. can reduce total surplus for society. B. never increases total surplus for society. C. never affects total surplus for society. D. always increases total surplus for society.