Budget cuts which lead to more lax protection of our borders will affect the labor market in California. It will cause a(n) ________ in labor supply, resulting in ________.

If you own a $1,000 face value bond with one year remaining to maturity and a 3 percent coupon rate and new bonds are paying 14 percent, what is the most you can get for your old bond?

A) $903.51 B) $997.19 C) $1,000 D) $1,140

Assume that the tuna fishing industry is perfectly competitive. Which of the following best characterizes the industry if, as demand for tuna increases, fishing boats have to go farther into the ocean to harvest tuna?

A) a fixed-cost industry B) a decreasing-cost industry C) an increasing-cost industry D) a constant-cost industry