CONNECT F/MICROECONOMICS
21st Edition
ISBN: 2810022151240
Author: McConnell
Publisher: MCG
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Chapter 25, Problem 11DQ
To determine
Decline in illegal immigration.
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(a) unemployment in the originating nation, (b) remittances
* How might the output and income gains from immigration
shown by the simple immigration model be affected by
themployment in the originating nation, (b) remittances
inmigrants to the home country, and (c) backflows of
migrants to the home country? LO23.3
migrants to the home country? LO23.3
shown by the simple immigration model be affected by
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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- In 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_forwardTime 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_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_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_forwardThe GDP of the U.S. represents about O 25 O 35 O 45 O 55 % of the GDP of the world.arrow_forward
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