Remittances and backflows of experienced workers:
A. reduce the efficiency gains from migration.
B. reverse wage equalization that occurred with the original migration.
C. exacerbate the problem of "brain drain" from developing nations.
D. redistribute gains toward the original emigrant nation.
Answer: D
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The traditional Keynesian approach to fiscal policy assumes
A) exchange rates are fixed. B) the focus of attention should be the long run. C) prices are flexible while interest rates are not. D) current taxes are the only taxes taken into account by firms and consumers.
Refer to the figure above. The MSB curve lies to the right of the demand curve because the production of Good Y involves ________
A) positive externalities B) negative externalities C) increasing returns to scale D) decreasing returns to scale