Which of the following is classified as a sunk cost?
a. Cost of the next best alternative
b. Additional cost of producing an additional unit
c. Research costs to determine the implementation of a technology
d. Total cost of producing a product
c
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In the short run, which of the following will reduce the gains from labor migration to the recipient nation?
a. Workers remit less than the value of their marginal products. b. Migrant workers have a declining marginal product so that the equilibrium wage is lower than MPs of earlier immigrants. c. Immigrants are low cost in terms of adjustment costs such as crime prevention, language assimilation, and few children enrolled in school. d. Workers remit more than the value of their marginal products.
Increases in productivity result in:
A. lower inflation as output decreases. B. opportunities for policymakers to reduce their inflation target without inducing a recession. C. higher inflation as output increases. D. none of the answers provided is correct.