The colonies traded internationally with regions other than the United Kingdom. They included all except
(a) Africa
(b) China
(c) West Indies
(d) Southern Europe
(b)
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All else equal, as the price of oil falls, potential profits from producing oil ________ which ________ oil companies to look for additional sources of oil
A) increase; encourages B) increase; discourages C) decrease; encourages D) decrease; discourages
When the FOMC sets a monetary policy, it first identifies its intermediate target and then works accordingly to achieve its ultimate goal
a. True b. False Indicate whether the statement is true or false
Which of the following is a tool of commercial policy?
a. Corporate income tax b. Payroll tax c. Excise duty d. Tariff e. Octroi duty
In long-run perfectly competitive equilibrium, which of the following is false?
A) There is efficient, low-cost production at the minimum efficient scale. B) Economic surplus is maximized. C) Firms earn economic profit. D) Economies of scale are exhausted.