In the Accompanying Graphs, the Pre-Migration Labor Force in Country

question 4

Multiple Choice

In the accompanying graphs, the pre-migration labor force in country A is 100 and in country B it is 150. What part of domestic output in country B is the total wage bill before and after the immigration?

• A)$1,700M before and $2,250M after
• B)$2,250M before and $1,700M after
• C)$1,500M before and $2,250M after
• D)$1,700M before and $1,500M after

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Definitions:

Scarcity Principle

A psychological and economic principle stating that limited availability of a resource makes it more desirable and valuable.

Limited-number Technique

A marketing strategy that creates a sense of urgency by claiming a product is in short supply, urging quick consumer action.

Scarcity

A basic economic problem arising from the situation in which finite resources are insufficient to satisfy all human wants and needs.

Scarcity

A condition where resources are limited compared to the demands or needs, leading to competition and value appreciation.