Measuring the effects of labor immigration shows:
a. that as workers move, they disrupt their families and cause huge costs in the recipient nation.
b. that most immigrants spend months trying to find work.
c. that immigration benefits the recipient nation by raising the marginal product of capital, expanding laborintensive production, and lowering prices of laborintensive goods.
d. that immigration is very harmful to the host nation because of a huge increase in the unemployment rate
Ans: c. that immigration benefits the recipient nation by raising the marginal product of capital, expanding laborintensive production, and lowering prices of laborintensive goods.
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Open market operations refers to the Fed's
A) manipulation of the required reserve ratio. B) purchase and sale of government bonds. C) manipulation of the discount rate. D) use of all of the above techniques.
McDonalds has traditionally been popular among Chinese children
Indicate whether the statement is true or false
According to the theory of cost, specialization in the use of variable resources in the short-run results initially in:
a. decreasing returns and declining average and marginal costs b. increasing returns and declining average and marginal costs c. increasing returns and increasing average and marginal costs d. decreasing returns and increasing average and marginal costs e. none of the above
The monopolist chooses to produce:
A. where marginal cost equals marginal revenue. B. at a higher quantity than the perfectly competitive firm. C. at an efficient outcome. D. at a cost that is equal to a competitive one.