In the two-country model of international labor mobility
A) the effect of migration is to cause real wages in the two countries to converge.
B) the effect of migration is to cause real wages in the two countries to diverge.
C) labor has only limited international mobility.
D) the long-run equilibrium global real wage is equal to the lesser of the pre-migration wages in the two countries.
E) the long-run equilibrium global real wage is equal to the greater of the pre-migration wages in the two countries.
A
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Assume that the hourly price for the services of personal trainers has risen and sales of these services have also risen. One can conclude that
A) personal trainers are deliberately charging high prices because they provide services for wealthy clients. B) the demand for personal trainers has increased. C) the law of demand has been violated. D) the number of personal trainers has increased.
The price received by sellers in a market will increase if the government decreases a
a. binding price floor in that market. b. binding price ceiling in that market. c. tax on the good sold in that market. d. None of the above is correct.