Purchasing power parity holds when the exchange rate is equal to the product of the foreign price level and the domestic price level
a. True
b. False
Indicate whether the statement is true or false
False
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Money prices are an extremely effective device for promoting social cooperation because
A) most people want money more than they want anything else. B) people are basically selfish. C) scarcity can be eliminated through appropriate changes in money prices. D) they don't change rapidly when circumstances change. E) they help to clarify the options available to people.
Countertrade is an efficient way of doing business.
a. true b. false
The Clayton Act is an antitrust law that was passed to
A) outlaw monopolization. B) address loopholes in the Sherman Act. C) prohibit charging buyers different prices if the result would reduce competition. D) toughen restrictions on mergers by prohibiting mergers that reduce competition.
Since the 1960s, some of the best examples of transition from developing to developed economies can be found in
A. Western Europe. B. East Asia. C. North America. D. West Asia.