Which Is a Good Example of Return Migration

question 124

Multiple Choice

Which is a good example of return migration?

• A) Joon Park, an American, goes to Korea for the summer to visit the village of his ancestors.
• B) When India was partitioned in 1947, the Pradesh family moved from India to the newly formed country of West Pakistan, a place they had never been before.
• C) When John Wallace retired from his job in Chicago, he and his sister Etta sold their home and moved back to England to spend their final years in the land of their youth.
• D) Nam Vo came to California as one of the "boat people." He is planning a second move from Los Angeles to Detroit to live with his cousin.

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Definitions:

Deductibles

The amount paid out of pocket by the policyholder before an insurance policy begins to cover expenses.

Consumer Surplus

The difference between the maximum price a consumer is (or consumers are) willing to pay for an additional unit of a product and its market price; the triangular area below the demand curve and above the market price.

Willing To Pay

The maximum amount an individual is prepared to spend to purchase a good or service or to avoid something undesirable.

Moral Hazard

A situation in economics where one party is willing to take risks because the costs that could result will not be borne by that party.