Answer the following statements true (T) or false (F)
1. All illegal immigrants enter the U.S. and arrive here illegally.
2. Current U.S. immigration law is heavily weighted toward family reunification.
3. There was a big spike in legal immigration into the U.S. in 1989-1991, resulting from an amnesty program through which many formerly illegal immigrants became legal residents.
4. In 2011, refugees comprised a bigger portion of total legal immigration into the U.S. than employment-based immigrants.
1. F
2. T
3. T
4. T
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A firm in perfectly competitive industry is maximizing profit at Q = 3,000 . Then its fixed cost increases. The profit-maximizing output is now
a. greater than 3,000 and profit decreases b. less than 3,000 and profit decreases c. greater than 3,000 and profit is unchanged d. equal to 3,000 and profit decreases e. equal to 3,000 and profit increases
A business cycle is:
a. the movement of the economy from peak to trough and trough to peak over time. b. a point of time comparison of economic activity. c. a prolonged movement in an upward fashion over a period of time. d. a prolonged movement in a downward fashion over a period of time.
Price ceilings are designed to
A. create surpluses where none existed before. B. establish a maximum allowable price. C. allow free market prices to be achieved. D. None of these.
Per capita output is a measure of economic welfare of a country.
Answer the following statement true (T) or false (F)