Crude oil is sold in a local market.
Answer the following statement true (T) or false (F)
False
Because of the multinational basis of many oil companies, crude oil has been sold in a global market for decades.
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Centrally planned economies have historically been more damaging to the environment than capitalist ones.
Answer the following statement true (T) or false (F)
Which of the following is true with regard to the use of countercyclical fiscal policy as a stabilization tool?
What will be an ideal response?
A natural monopoly
A. usually arises when there are large economies of scale. B. involves multiple firms selling differentiated products. C. is derived from deposits of natural resources. D. requires government licensing initially.
The Supreme Court's decision in the Standard Oil of New Jersey case was
A. to break up the company. B. to force the company to send refund checks to customers. C. to increase the fine imposed by a lower court. D. to force the company to pay $10 billion in fines.