Worker migration will cause wage rates to equalize across two countries if all of the following conditions are met except:
A. migration is motivated strictly by wage differentials.
B. neither nation restricts or interferes with migration.
C. both countries use the same currency.
D. migration has no cost.
Answer: C
Economics
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Suppose the Utopian economy has the following characteristics: 100,000 people in the noninstitutional population; 80,000 people employed; 20,000 people not in the labor force. How many people are in the economy's labor force?
A) 0 B) 20,000 C) 60,000 D) 80,000 E) 100,000
Economics
When a bank grants a loan to a customer who then keeps the funds in her checking account at that bank, then the bank's:
A. Actual reserves will increase B. Required reserves will increase C. Actual reserves will decrease D. Excess reserves will stay the same
Economics