In Europe, What Group Is Represented by the Term Guest

question 108

Multiple Choice

In Europe, what group is represented by the term guest worker?

• A) immigrants invited to Europe to relieve labor shortages
• B) skilled laborers temporarily swapped between flexible firms
• C) European workers employed by non-European-owned firms
• D) European emigrants who work abroad with the intention of returning home

---

Definitions:

Economic Profit

The total revenue minus explicit and implicit costs; it represents additional income over what could be earned in the next best alternative.

Average Total Cost

This refers to the total cost of production divided by the number of units produced, representing the cost per unit.

Marginal Cost Curve

A graph that shows the relationship between the marginal cost of producing an additional unit of a good or service and the quantity produced.

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable on another.