New immigration laws championed by the Kennedy and Johnson administrations
a. established a quota system based on ethnic background.
b. allowed for unlimited immigration.
c. placed a high priority on uniting families.
d. led to reduced immigration rates in the 1960s and 1970s.
e. All of the above.
c. placed a high priority on uniting families.
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Most economists prefer regulation to taxation because regulation corrects market inefficiencies at a lower cost than taxation does
a. True b. False Indicate whether the statement is true or false
Dave consumes two normal goods, X and Y, and is currently at an optimum. If the price of good X falls, we can predict with certainty that
a. Dave will consume more of both goods because his real income has risen. b. the substitution effect will be positive for good X and negative for good Y. c. Dave may consume more or less of good X, but he will consume less of good Y. d. the substitution effect will offset the income effect for good X.