Show, using a demand and supply diagram, what will happen to the wages of scientists and engineers if there is an increase in immigration of scientists and engineers from other countries.
What will be an ideal response?
As immigration of scientists and engineers increases, the supply curve for scientists and engineers shifts to the right, reducing the equilibrium wage. Refer to Figure 15.1 as a sample demand and supply diagram.
Economics
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Refer to Figure 5-3. The size of marginal external benefits can be determined by
A) D2 + D1 at each output level B) the demand curve D2. C) D2 - D1 at each output level. D) the demand curve D1.
Economics
The primary purpose of the FDIC is to reduce the potential for
A. government regulations. B. excessive interest rates. C. bank runs. D. reserve cheating.
Economics