Which of the following is an impact of increased illegal immigration on an economy?
A. The rate of inflation in the receiving country increases.
B. The demand for government services like education and health care increases.
C. The real wage rate of workers increases.
D. The demand for labor in the receiving country declines.
Answer: B
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The above table gives data for a hypothetical nation. Gross domestic product is
A) $4,049 billion. B) $4,079 billion. C) $4,054 billion. D) $4,339 billion.
By continuing to operate when price is greater than average variable cost but less than average total cost, a firm limits its losses to:
A) $0. B) its total fixed costs. C) the difference between its total fixed cost and the amount by which total revenue exceeds total variable costs. D) its total variable costs.
Natural monopolies occur when a single or a few firms can take advantage of economies of scale and supply the entire industry output.
A. True B. False C. Uncertain
According to the text, which of the following is a principal reason why firms merge?
a. to form a cartel b. to exercise greater market control c. to increase their product differentiation d. to decrease their product differentiation e. to become a monopoly