Microeconomics
21st Edition
ISBN: 9781259915727
Author: Campbell R. McConnell, Stanley L. Brue, Sean Masaki Flynn Dr.
Publisher: McGraw-Hill Education
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Question
Chapter 25, Problem 11DQ
To determine
Decline in illegal immigration.
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6. What is a "brain drain" as it relates to international migra-
tion? If emigrants are highly educated and received greatly
subsidized education in the home country, is there
any justi-
fication for that country to levy a "brain drain" tax on them?
Do you see any problems with this idea? LO23.3
QUESTION 7
If foreign immigration (only) increases the number of workers in the US by 10%, GDP per worker should
O A. Increase by 10%
O B. Increase by less than 10%
OC. Decrease by more than 10%
O D.Decrease by less than 10%
A dozen eggs cost $1.22 in January 1990 and $2.33 in January 2016. The average wage for workers in private industries was $10.02 per hour in
January 1990 and $21.33 in January 2016.
By what percentage did the price of a dozen eggs rise?
48%
91%
111%
By what percentage did the wage rise?
O 21%
94%
113%
In order to earn enough to buy a dozen eggs, a worker had to work.
Workers' purchasing power in terms of eggs
minutes in January 1990 and
between 1990 and 2016.
minutes in January 2016.
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- Approximately how many people are employed in the federal bureaucracy? O 1 million-1.4 million O 1.5 million -1.7 million O2 million-2.4 million O 2.5 million - 3 millionarrow_forwardA software company in Silicon Valley uses programmers (labor) and computers (capital) to produce apps for mobile devices. The firm estimates that when it comes to labor, MPL = 5 apps per month while PL = $1,000 per month. And when it comes to capital, MPC = 8 apps per month while PC = $1,000 per month. If the company wants to maximize its profits, it should: LO16.5 a. Increase labor while decreasing capital. b. Decrease labor while increasing capital. c. Keep the current amounts of capital and labor just as they are. d. None of the above.arrow_forwardImagine the GDP per capita of a country doubles every one hundred years. What would the shape of a linear-scale graph and a ratio- scale graph be? Select one or more: O a. Linear scale: an upward-sloping Ratio scale: an upward-sloping curve with increasing slope (called straight line convex shape) O b. Ratio scale: a straight horizontal line Linear scale: an upward-sloping straight line Ratio scale: an upward-sloping curve with decreasing slope (called O C. Linear scale: an upward-sloping straight line concave shape) O d. Linear scale: an upward-sloping Ratio scale: an upward-sloping convex curve convex curvearrow_forward
- Time left 0:5 What is the impact on the labour market due to a decrease in the demand for exports? Select one: O a. labour supply shifts to the left; wage rate increases and level of employment is lower O b. labour demand shifts to the left; wage rate decreases and level of employment decreases O c. labour supply shifts to the right; wage rate decreases and level of employment is higher O d. labour demand shifts to the right; wage rate increases and level of employment increases Next page pagearrow_forwardIn the year 2014, the world's average per capita GDP was $14,517. What percent of the world's population lived in a country with per capita GDP that was below $14,517? O 21% 43% 56% OOOO 73% Show Transcribed Text Roughly what percent of the world's population live in countries with per capita GDP lower than the average world per capita GDP? 75% 50% © 25% C 10%arrow_forwardOn your diagram, illustrate and explain how the wage increase can lead them to have: more consumption and more free time • more consumption and less free time • less consumption and more free time this is the diagram, are you able to make a copy of that and illustrate the answer ¥50 650 600 SS-O 480 400 350 -300 250 200 150. SO 1-720 360 240 1 2 1 4 T 6 8 S C c=200214-4) A 10 ( 12 1 14 BC=30(24-1) 1 1 16 18 4C2 IC₂ 20 22 24 slope-20arrow_forward
- D Question 14 Suppose for the country of Joshua-land, the annual inflation rate is 7%, the population growth is 5% per year while GDP increases by 2% per year. How long would it take for the country to double its GDP? O 7 years O 14 years 35 years O Never Question 15 For the previous question, how long would it take Joshua-land to double its GDP capita? per O 7 years O 14 years O 35 years Never Question 16 For Joshua land, how long would it take for prices to double? O 7 years O 10 years 35 years O Not enough informationarrow_forward2. Suppose that the table below shows an economy's relationship between real output and the inputs needed to produce that output: LO4 Input Quantity Real GDP 150.0 $400 112.5 300 75.0 200 a. What is productivity in this economy? b. What is the per-unit cost of production if the price of each input unit is $2? c. Assume that the input price increases from $2 to $3 with no accompanying change in productivity. What is the new per-unit cost of production? In what direction would the $1 increase in input price push the economy's aggregate supply curve? What effect would this shift of aggregate supply have on the price level and the level of real output? d. Suppose that the increase in input price does not occur but, instead, that productivity increases by 100 percent. What would be the new per-unit cost of production? What effect would this change in per-unit production cost have on the economy's aggregate supply curve? What effect would this shift of aggregate supply have on the price…arrow_forwardWhat is the impact on the labour market due to the arrival of a boatload of Haitian migrants? Select one: O a. labour demand shifts to the left; wage rate decreases and level of employment decreases O b. labour supply shifts to the right; wage rate decreases and level of employment is higher O. labour demand shifts to the right; wage rate increases and level of employment increases O d. labour supply shifts to the left; wage rate increases and level of employment is lowerarrow_forward
- Question 3 Table: U.S. Demand for and Supply of Widgets Price $1 Quantity 5 Supplied Quantity Demanded 20 O 0 widgets 2 widgets O4 widgets 6 widgets $2 6 19 $3 7 18 $4 8 17 $5 9 15 $6 10 14 $7 11 13 $8 $9 12 13 12 11 $10 14 10 The United States can import widgets from China at $4 each and from Mexico at $5 each. The United States imposes a tariff of $2 on each of its widget imports. Suppose that the United States and Mexico form a free- trade area. How much trade in widgets is diverted in the U.S.-Mexican free-trade area?arrow_forwardThe GDP of the U.S. represents about O 25 O 35 O 45 O 55 % of the GDP of the world.arrow_forwardIf the quantity of labor supplied is less than the quantity of labor demanded, then we can expect: O interest rates to decrease O wages to decrease O interest rates to increase O wages to increase Previous Next » W ASUS 15 7 8arrow_forward
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