Which of the following statements is consistently associated with the standard migration model?
A. The decision to move is expected to increase the household's overall utility.
B. Return migration occurs only when the mover regrets having made the initial move.
C. Moving for job reasons is always done at the expense of family desires.
D. Repeat migration occurs only when the mover is moving for job-related reasons.
E. Repeat migration occurs only when the mover regrets having made the initial move.
Answer: A
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Refer to the figure above. What is the consumer surplus when the market changes to a monopoly?
A) $30 B) $45 C) $60 D) $90
The Fed sometimes acts as a lender of last resort. This means that
a. individuals can borrow from the Fed when the President declares a national disaster b. individuals can try to borrow money from the Fed if they are unable to borrow from a bank c. banks can always go to the Fed for reserves in order to purchase more government bonds d. banks can always go to the Fed for reserves to meet their obligations to depositors e. business firms can try to borrow money from the Fed they are unable to borrow from a bank