Regarding Organizing the Professions During the Progressive Era

question 56

Multiple Choice

Regarding organizing the professions during the Progressive Era,

• A) most professions attempted to expand the ranks of Americans in their fields.
• B) the medical field remained largely unorganized.
• C) there was little organized activity in rural America.
• D) by 1916, all states had established professional bar associations.
• E) state and local governments generally impeded attempts to professionalize.

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service and what they actually pay, indicating the benefit received by consumers from participating in the market.

Utility

The satisfaction you derive from a good or service that you purchase. How much utility you derive is measured by how much you would be willing to pay.

Demand Schedule

A table or graph showing the quantity of a good or service that consumers are willing and able to purchase at various prices over a given period.

Marginal Utility

The extra pleasure a customer receives from using an additional unit of a product or service.