Which of the following groups does not fit in with the others?
A. Illegal immigrants
B. Undocumented workers
C. Green-card holders
D. Overstaying aliens
C. Green-card holders
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Who was the effectively in charge of the Fed during the early 1930s?
A) Secretary of Treasury B) Head of the Federal Reserve bank of New York C) Comptroller of the Currency D) no one
Economic rent is
A) the return to owners of farmland. B) the return to landlords. C) a payment for the use of any resource above its opportunity cost. D) a payment for land, an apartment, or a house that one does not own.
If price exceeds average total cost
a. the firm earns an economic profit b. there are a large number of buyers and sellers c. the firm suffers an economic loss d. the firm closes down e. the firm should reduce its production
Monopolistic competition is similar to a monopoly because firms in both industries
A. sell products with no close substitutes. B. sell differentiated products. C. have freedom of entry and exit. D. have some control over price.