In What Decade Was the Percentage of Foreign-Born in the United

question 15

Multiple Choice

In what decade was the percentage of foreign-born in the United States the greatest?

• A) 1890s
• B) 1950s
• C) 1990s
• D) 2010s

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Definitions:

Above Average Profits

Earnings that surpass the norm or average level within a particular industry or market.

Perfectly Elastic Demand

A market situation where demand for a product can drastically change to infinity with the slightest change in its price.

Inelastic Demand

A situation where the demand for a product does not change significantly with a change in price.

More Elastic Demand

A situation where the demand for a product is more sensitive to changes in price, meaning quantities demanded change significantly even with small price fluctuations.