The international oil price hike by OPEC was an adverse supply shock faced by the United States in the 1970s.
a. true
b. false
a. true
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Japan has developed a comparative advantage in designing and producing automobiles. The source of its comparative advantage in these products is
A) technology. B) a strong central government. C) a favorable climate. D) abundant supplies of natural resources.
What are three reasons that banks charge interest on loans?
What will be an ideal response?
An oligopoly is characterized by
a. few firms, which have control over market price b. many firms and some barriers to entry c. a large number of firms and no barriers to entry d. a single firm and no barriers to entry e. a single firm and significant barriers to entry
Unlike consumption, which is fairly stable over time, investment is subject to erratic fluctuations even through very short periods of time
Indicate whether the statement is true or false