How can the migration distance affect the cost–benefit evaluation of moving to another nation?
What will be an ideal response?
Immigrants estimate the costs and benefits of migration before making the decision to move to another nation. Greater migration distance reduces the likelihood of migration by increasing its costs through higher transportation costs, lack of information about the target nation, and reduced opportunity for future contact with friends and family.
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Which of the following quotations best captures the idea of opportunity cost?
a. "Opportunity knocks but once." b. "Every choice involves a sacrifice." c. "Let's not ask for the moon; we have the stars." d. "Fools rush in where wise men fear to tread." e. "All that glitters is not gold."
A negative externality such as pollution can be corrected by
A. a subsidy to consumers. B. a stimulus to production. C. a tax on producers. D. a subsidy to producers.