Which of the Following Best Describes the Role of the Federal

question 37

Multiple Choice

Which of the following best describes the role of the federal government in defining ethnicity in the United States?

• A) The government passes laws that define how much ancestry an individual must have to be a member of a minority group.
• B) The government creates ethnic groups by naming them and providing the group with funding.
• C) The government's role is only to provide service to ethnic minorities.
• D) The government allows individuals to write in their own ethnic identification on the census.

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Definitions:

Long-Run Economic Profits

Profits earned by a firm when all resources are adjusted to their long-term optimal level, indicating the firm is in equilibrium and cannot earn higher profits by altering production.

Free Entry And Exit

A situation in a market where firms can enter and leave the industry without facing significant barriers or costs, promoting competition.

Industry

A sector of the economy that involves the production and distribution of goods or services within a particular field.

Monopolistically Competitive Industry

Describes a market structure where many companies sell products that are similar but not identical, allowing for significant differentiation and some pricing power.