Now, consider a situation where some Foreign workers migrate to Home but not enough to reach the equilibrium with full migration (point B). a. Explain below in words what happens to wages in Home and Foreign. In the bucket diagram, clearly label the new World allocation of labour L', and the new wage values in Home and Foreign, w' and w, respectively. b. Use the bucket diagram above to discuss and identify the economic benefits and costs of immigrants to Home. c. Does Home gain from immigration overall? If so, clearly identify the area representing these gains in the bucket diagram above. If not, explain why not.

Now, consider a situation where some Foreign workers migrate to Home but not enough to reach the equilibrium with full migration (point B). a. Explain below in words what happens to wages in Home and Foreign. In the bucket diagram, clearly label the new World allocation of labour L', and the new wage values in Home and Foreign, w' and w, respectively. b. Use the bucket diagram above to discuss and identify the economic benefits and costs of immigrants to Home. c. Does Home gain from immigration overall? If so, clearly identify the area representing these gains in the bucket diagram above. If not, explain why not.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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