Answer the following statements true (T) or false (F)
1) U.S. immigrants (legal and illegal combined) have lower prison rates than the native-born
population.
2) Illegal immigration has little effect on the average level of wages in the United States.
3) Economic theory suggests that immigration should be allowed into a country until the marginal
benefit of the last immigrant is zero.
4) The optimal level of immigration occurs where marginal benefit is at its greatest.
1) T
2) T
3) F
4) F
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Firms in which of the following industries can earn an economic profit in the long run?
A) both monopolistic competition and monopoly B) perfect competition C) monopoly D) monopolistic competition E) monopolistic competition and perfect competition
Sally lost her job when her company went out of business because of a recession. This is an example of