Which of the following is true of illegal immigrants?
a. They help improve the quality of goods and services produced in the United States.
b. They help increase the wage rate in the U.S.
c. They do not affect the equilibrium wage of the U.S. unskilled labor market.
d. They help some firms lower operating costs, earn more profit, and produce more.
e. They reduce the supply of unskilled labor in the United States.
d
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Suppose the representative firm suddenly has less capital at its disposal. What happens to labor demand?
A) It increases. B) It stays the same. C) It decreases. D) We cannot tell.
Consider the labor market for short-order cooks. An increase in immigration will cause
a. both equilibrium wages and equilibrium employment to increase. b. both equilibrium wages and equilibrium employment to decrease. c. equilibrium wages to increase and equilibrium employment to decrease. d. equilibrium wages to decrease and equilibrium employment to increase.
Disinflation is a reduction in
a. the price level. b. the inflation rate. c. the consumer price index. d. All of the above are correct.
The concave shape of the PPC indicates that:
What will be an ideal response?