Answer the following statements true (T) or false (F)
1) Economic research consistently finds that immigration negatively impacts the average American wage.
2) If all nations prohibited the international migration of labor, we would expect world output to decline.
3) If the demand for labor in a country receiving immigrants is inelastic, the immigration will
increase the total wages paid in that country.
4) Business income will decrease in the nation from which workers emigrate.
1) F
2) T
3) F
4) T
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Economic profit of a decision in question equals
A. accounting profit of the decision in question + its opportunity cost. B. accounting profit of the decision in question ? accounting profit of the best available alternative. C. accounting profit of the decision in question + its opportunity cost + overheads. D. its opportunity cost + accounting profit of the best available alternative.
Which of the following is NOT an example of positive supply-side policy?
A. Higher marginal tax rates. B. Trade liberalization. C. Improving infrastructure. D. Eliminating excessive government regulation.