In the Long Run, When There Is Immigration of Labor

question 146

Multiple Choice

In the long run, when there is immigration of labor and all domestic factors of production are mobile:

• A) resources move out of the labor-intensive industry into the other sectors of the economy.
• B) the excess labor cannot be absorbed into the economy, and eventually workers will seek to emigrate.
• C) the excess labor is absorbed, but it raises the unemployment rate and drives down wages, and the owners of capital are the clear winners.
• D) the additional labor in the economy is fully employed and the capital-labor ratio in each industry is unchanged

Understand the concepts of role overload and underload as stressors in the workplace.

Recognize the signs of workplace incivility and its impact on employees’ well-being and job satisfaction.

Identify physiological, psychological, and behavioral effects of stress.

Understand the importance of interpersonal relations in the workplace in mitigating or exacerbating stress.

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Definitions:

Farmers

Individuals or entities engaged in the activity of agriculture, which includes the cultivation of plants and rearing of animals for food, fiber, biofuel, medicines, and other products used to sustain and enhance human life.

Optimal Allocation

The most efficient distribution of resources within an economy to maximize the output or welfare.

MB = MC

A principle in economics indicating the optimal level of output or consumption, where the marginal benefit (MB) equals the marginal cost (MC).

Marginal Benefit

The added utility or pleasure that comes from the consumption of one more unit of a good or service.