What is the effect of immigration in the long run?
a. Output will increase.
b. Factor prices will increase.
c. There will be no change in factor prices.
d. There will be an increase in output but no change in factor prices.
Answer: d. There will be an increase in output but no change in factor prices.
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Which of the following is true?
i. The advanced economies account for more than half of global production. ii. Almost four out of every five people in the world live in the developing economies. iii. In the advanced economies, agriculture accounts for a larger part of total production than in the developing economies. A) Only i and ii B) i, ii, and iii C) Only i D) Only ii and iii E) Only i and iii
An example of fixed investment spending for a business is
A) a purchase of a home by a household. B) a purchase of a pizza oven by an Italian restaurant. C) a purchase of a corporate bond by Google. D) $15 million of unsold furniture at a furniture store.