Economic theory suggests that the optimal level of immigration in the United States:
A. is zero.
B. occurs where the marginal benefit of the last immigrant equals or just exceeds the marginal
cost of the last immigrant.
C. occurs where the marginal benefit of the last immigrant equals or just exceeds zero.
D. occurs at the level where the difference between the marginal benefit and marginal cost of
the last immigrant is maximized.
Answer: B
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One type of demander in the loanable funds market
A) lends funds to purchase financial capital. B) lends funds to purchase physical capital. C) wants physical capital in order to purchase financial capital. D) wants funds to purchase financial capital. E) wants funds to purchase physical capital.
A positive externality results when
A) economists are sure that a good or service provides benefits to consumers. B) someone pays for a good or service even though she is not directly affected by the production or consumption of it. C) people who live in one country benefit from the production of a good or service that occurs in another country. D) people who are not directly involved in producing or paying for a good or service benefit from it.
A minimum wage set above the equilibrium wage I. increases the supply of labor. II. increases the quantity of labor supplied. III. decreases the demand for labor
A) I only B) II only C) I and II only D) I, II, and III
2 potential problems with macro equilibrium
What will be an ideal response?