With labor migration, the country of origin experiences:
A. An increase in output and a rising wage rate
B. An increase in output and a falling wage rate
C. A decrease in output and a falling wage rate
D. A decrease in output and a rising wage rate
D. A decrease in output and a rising wage rate
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Refer to Figure 15-13. In the figure above, if the economy in Year 1 is at point A and is expected in Year 2 to be at point B, then the appropriate monetary policy by the Federal Reserve would be to
A) lower income taxes. B) raise interest rates. C) raise income taxes. D) lower interest rates.
Refer to Table 22-1. Based on the table above, which country has a higher standard of living and why?
A) Ireland has a higher standard of living because growth in GDP is greater in Ireland than in Sweden. B) Sweden has a higher standard of living because their GDP is higher. C) Ireland has a higher standard of living because their GDP per capita is higher. D) Sweden has a higher standard of living because their GDP per capita is higher.