U.S. and European immigration policies are best described as welcoming:
a. all foreign workers.
b. foreign workers in most industries.
c. foreign workers in select industries.
d. no foreign workers.
Ans: c. foreign workers in select industries.
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The Grangers were the first farm organization of importance and are noted for
a. encouraging the federal government to re-issue "greenbacks.". b. establishing cooperatives that sold farm and consumer goods to their members. c. refusing to sell grain to foreign countries. d. forming a cartel that set upper limits on members' output of basic farm products. e. All of the above.
To calculate GDP using the expenditure approach, in part it is necessary to
A) add imports and exports. B) add imports and subtract exports. C) add exports and subtract imports. D) subtract both exports and imports.
Why will a profit-maximizing, single-price monopolist NOT produce the amount of output that maximizes its total revenue?
What will be an ideal response?
Which of the following market structures is (are) capable of earning positive economic profits in the long run?
A) monopoly B) oligopoly C) monopolistic competition D) Both A and B.