Which of the following is not an example of a fungible commodity?
A. Wheat
B. Electricity
C. Money
D. All of these are fungible commodities.
D. All of these are fungible commodities.
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Mergers that significantly impede effective competition are ________.
A) prohibited by both the United States and the European Union laws B) prohibited by the European Union competition laws, but not the United States antitrust laws C) prohibited by the United States antitrust laws, but not the European Union competition laws D) generally legal in both the United States and the European Union
The aggregate supply curves show how much a nation's businesses are willing and able to produce at each price level
a. True b. False Indicate whether the statement is true or false
Which of the following will not change the demand for oranges?
A. A change in consumer's incomes B. A change in the price of grapefruits, a substitute for oranges C. A change in the price of oranges D. A change in consumers' taste for oranges E. An expectation that the price of oranges will increase in the future
Autarky is a situation in which a country
A) only exports products. B) only imports products. C) does not trade with other countries. D) has no absolute advantage in any production.