Answer the following statements true (T) or false (F)
1. In 2011, China overtook Mexico to become the number one country of origin of U.S. legal immigrants.
2. In 2007, immigrants made up a larger portion of the labor force in the U.S. than that in Canada.
3. The simple immigration model suggests that, for a high-wage country like the United States, immigration tends to reduce domestic output as well as the total income of businesses.
4. An increase in the mobility of labor across nations tends to decrease the world's output of goods and services.
1. F
2. F
3. F
4. F
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Which one of the following is an example of a positive statement?
A) Farmers need some type of government aid. B) State governments should provide economic assistance to farmers. C) The federal government should provide economic assistance to farmers. D) The amount of financial assistance given to farmers is higher this year than it was 10 years ago.
Bank A has checkable deposits of $10 million and total reserves of $1 million. The required reserve ratio is 9 percent. The bank has excess reserves of
A) $910,000. B) $91,000. C) $100,000. D) $10,000. E) There is not enough information provided to answer this question.