Economics: Principles, Problems, and Policies, 19th Edition

by McConnell, Campbell R.; Brue, Stanley L.; Flynn, Sean M.

Published by McGraw-Hill Education

ISBN 10: 0073511447

ISBN 13: 978-0-07351-144-3

Chapter 22 - Immigration - Problems - Page 470: 4a

Answer

$5.616 billion

Work Step by Step

We assume that $60\%$ of the $7.8$ million Mexican-born immigrants remit money to family members, which constitutes $0.60\times 7.8=4.68$ million people, and if each person sends ${$100}$/month, or ${$1200}$/year, then the total amount of money remitted is $1200\times 4.68=\$5.616$ billion

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