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Q: When immagration adds to domestic labor what happens?
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When immigration adds to the size of the domestic labor pool what is likely to occur?

If the size of the labor pool increases, wages will go down.


What does production accomplish A increased supply that lowers prices B reduced size of the labor force C Value added to resources that already exist D Efficient use of natural resources?

Production adds value to resources that already exist, by creating useful products.


Wnat is Value added concept?

It is the idea that at each stop along a chain of production or supply, something contributes (adds) utility (value) to a good or service that results in the value of the finished good being more than the raw materials and labor cost put into it. It's easiest illustrated like a bakery. raw ingredients (eggs, milk, flour, labor etc) all have some value, albiet a low one. A basic cake (say the materials plus labor cost $10) might sell for $15. That $5 is the added value.


What is gross domestic product (GDP)?

Gross vs. Net in EconomicsIn Economics, gross means before deductions (brutto), e.g. Gross Domestic Product (GDP) refers to the total market value of all final goods and services produced within a country in a given period of time. Net Domestic Product (NDP) refers to the(GDP) minus depreciation on a country's Capital (economics) goods. (The NDP is thus, in effect, an estimate of how much the country has to spend to maintain the current GDP.)GDP = Consumption + Investment + Government Spending + (Exports - Imports)GNP = GDP + Net Income from Assets AbroadGNP adds back (or subtracts away) from the GDP income made by domestic people in foreign countries minus income bade by foreigners domestically.GDP concern is BORDER, whereas GNP concern is PRODUCER.This link provides indepth understanding on GDP, GNP, Real GDP,Nominal GDP, GDP Deflator ....


Is Gross domestic product the same as gross national product?

No, however they are designed to provide the same sort of data measurement. The GDP is mainly used in the United States but most other countries use GNP for measuring economic growth.GDP = Consumption + Investment + Government Spending + (Exports - Imports)GNP = GDP + Net Income from Assets AbroadGNP adds back (or subtracts away) from the GDP income made by domestic people in foreign countries minus income bade by foreigners domestically.GDP concern is BORDER, whereas GNP concern is PRODUCER.This link provides indepth understanding on GDP, GNP, Real GDP,Nominal GDP, GDP Deflator ....