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

Published by McGraw-Hill Education
ISBN 10: 0073511447
ISBN 13: 978-0-07351-144-3

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

Answer

${$313.39}$/month

Work Step by Step

This constitutes $75\%$ of the population of Mexican-born immigrants in the US or $0.75\times 7.8=5.85$ million people. The average that each remits in a month is equal to the total amount of remitted money divided by the number of people. $\frac{$22,000,000,000}{5,850,000}$ = ${$3760.68}$/year. Divided by $12$ months in a year, we get ${$313.39}$/month.
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