The Chinese Exclusion Act of 1882 was the first restriction on immigration, in the U.S
a. True
b. False
Indicate whether the statement is true or false
True
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In a mixed economy,
A. all economies choose an identical mix of private and public involvement in the economy. B. the government is more important than the private sector in generating output. C. there is some government influence over the workings of the free market. D. All of the responses are correct.
One problem associated with a monopoly firm is that it
A) produces too little output but also charges a low price. B) produces too much output and charges too low a price. C) restricts output and charges a relatively higher price than a purely competitive firm. D) is just as good as a purely competitive firm in terms of output and price.
Welfare economics is the study of
a. the well-being of less fortunate people. b. welfare programs in the United States. c. how the allocation of resources affects economic well-being. d. the effect of income redistribution on work effort.
A nation has a population of 300 million people. Of these, 80 million are retired, in the military, in institutions, or under 16 years old. There are 210 million who are employed and 10 million who are unemployed. What is the unemployment rate?
a. 3.6 percent b. 3.3 percent c. 4.5 percent d. 5.2 percent