The growth of cities and population usually accompanies growth in commercial activity and vice versa
Indicate whether the statement is true or false
True
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Refer to the production possibility graph above. Assume that the economy is in equilibrium at point e. If a war reduces the country's capital stock by 40%, the new equilibrium is most likely to be
A) point b. B) point h. C) point f. D) point d. E) point e.
If you want to earn a high income you should figure out what others value because
What will be an ideal response?
Which of the following is NOT a reason why countries trade goods with one another?
a. differences in technology used in different countries b. differences in countries' total amount of resources c. the proximity of countries to one another d. differences in countries' languages and cultures
Why are laws aimed at regulating monopolies called "antitrust" laws?
A) The rise of large firms (e.g., Standard Oil) in the late 1800s in the United States caused consumers to lose trust in private business. B) "Trust" was a word in Old English that meant monopoly in the Middle Ages. Therefore, "antitrust" is a term that means "against monopoly." C) In the late 1800s, firms in several industries formed trusts; the firms were independent but gave voting control to a board of trustees. Antitrust laws were passed to regulate these trusts. D) In the late 1800s, firms in several industries formed trusts; they were called "trusts" because when corporate officials were questioned about their business they would clam that business was good for the country and that they should trusted.