Which of the following contributed to the weak recovery from the 2008-2009 recession?
a. the restrictive monetary policy followed by the Fed
b. constant policy changes that created uncertainty and thereby retarded private business investment
c. sharp reductions in federal spending that were designed to achieve a balanced federal budget
d. failure to run budget deficits that were large enough to exert an impact on aggregate demand
B
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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.
If the price elasticity of supply of corn is 3.12, then is the supply of corn elastic or inelastic?
What will be an ideal response?