Illegal immigration has been shown to have an overall negative fiscal impact on local and state governments. Describe the fiscal benefits and cost of illegal immigration for local and state governments
What will be an ideal response?
The benefits of illegal immigration for local and state governments are limited to collections of sales and property taxes. On the other hand, the costs associated with illegal immigration are large for local and state governments as immigrants place their children in local schools, use local emergency medical care and add to the cost of the criminal justice system. A recent estimate of the fiscal burden of illegal immigrants is $50 billion annually.
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Economists define "shortage" as
A) quantity demanded exceeds quantity supplied. B) quantity demanded equals quantity supplied. C) quantity supplied exceeds quantity demanded. D) a situation whereby the prevailing price is higher than the market-clearing price.
If the firm were a perfect competitor in the long run, how much would its price be?