Remittances and backflows of experienced workers:
A. reduce the efficiency gains from migration.
B. reverse wage equalization that occurred with the original migration.
C. exacerbate the problem of "brain drain" from developing nations.
D. redistribute gains toward the original emigrant nation.
Answer: D
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Which of the following is NOT true according to Say's law?
A) Producing goods and services generates the means and the willingness to purchase other goods and services. B) Desired expenditures will always be higher than actual expenditures. C) Supply creates its own demand. D) No overproduction is possible in a market economy in the long run.
Refer to the scenario above. Based on this information, it can be concluded that ________
A) Plutoland experienced a current account surplus during that year B) Plutoland experienced a current account deficit during that year C) Earthland ran a current account deficit during that year D) Earthland and Plutoland should stop trading with each other
A certain state legislature is considering an increase in the state gasoline tax. Representative Campbell argues that an increase in the gasoline tax would harm low-income drivers disproportionately. Representative Richards responds by saying that low-income drivers own smaller cars that use less gasoline, and that low-income drivers therefore would not be harmed disproportionately
a. Representative Campbell's argument is based primarily on efficiency, while Representative Richards' argument is based primarily on equality. b. Representative Campbell's argument is based primarily on equality, while Representative Richards' argument is based primarily on efficiency. c. Both representatives' arguments are based primarily on efficiency. d. Both representatives' arguments are based primarily on equality.
A customs union is:
a. a group of countries that agrees there will be "no rules" about trade—anything goes. b. a group of countries that agrees to eliminate customs fees and containerized shipping charges on goods traded among them. c. a group of countries agreeing to eliminate barriers to trade between themselves but keeping tariffs in place against the rest of the world. d. a group of countries that eliminates trade barriers among themselves and erects a common tariff against all other nations.