Which of the Following Is True of White and Chinese

question 8

Multiple Choice

Which of the following is true of White and Chinese railroad workers in the 1800s?

• A) Chinese workers were paid more than White workers.
• B) Labor market competition between White and Chinese workers fueled lynching of White workers.
• C) Federal legislation purposefully restricted entry of Chinese laborers into the U.S.
• D) Chinese were only permitted to work on Chinese railroads if the railroads were owned by Americans.

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Definitions:

Economic Profit

The total revenue minus total costs, including both explicit and implicit costs.

Competitive Market

A market structure characterized by a large number of sellers and buyers, where no single party can dictate prices or market conditions.

Price-Taker Industry

An industry in which individual firms have no control over the price set by the market and must accept the prevailing price.

Total Revenues

The total income received by a firm from selling its goods or services before any costs or expenses are subtracted.