Why would a low-wage nation oppose emigration?
What will be an ideal response?
A low-wage nation would oppose emigration because it may generate what is commonly known as brain drains. Brain drains refer to the outflow of highly educated and skilled workers to other nations. Low-wage nations may also oppose emigration because it reduces the output produced and business income in those nations.
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A typical firm in a cartel will hold which of the following attitudes?
A) If everyone cheats, I'm better off, and so is everyone in the cartel. B) If I alone cheat, I'm better off; if everyone cheats, I'm worse off. C) I can never do better for myself than following agreed-upon cartel rules. D) If I suspect others are planning to cheat, I'll do best for myself by deciding not to cheat.
The Fed relies on open-market operations, which work
A. with the Treasury in creating money to finance bonds. B. through major stock exchanges to influence bond prices. C. directly through the nonbank public to change their assets. D. through the banking system by affecting their reserves.
The quantity theory of money relies on which variable to remain constant?
A. Aggregate spending. B. Velocity of money C. Price level D. Money supply
Consumer surplus is the difference between the most a person is willing to pay and market price.
Answer the following statement true (T) or false (F)