After World War II, the advanced nations of the West committed themselves to increasing barriers to the free flow of goods, services, and capital between nations
Indicate whether the statement is true or false.
FALSE
Having learned from past experience, the advanced industrial nations of the West committed themselves after World War II to progressively reducing barriers to the free flow of goods, services, and capital among nations.
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Journalizing a transaction involves ________
A) calculating the balance in an account using journal entries B) posting the account balances in the chart of accounts C) preparing a summary of account balances D) recording the data only in the journal
Which of the following is true regarding competitive rivalry?
A) The more competitors an industry has, the higher will be the differentiation among them. B) High differentiation among competitors increases competitive rivalry. C) Excess capacity within an industry can cause competitors to intensify their moves against one another. D) Intense competitive rivalry leads to higher prices and margins. E) Intense competitive rivalry leads to lower marketing and sales expenses for retaining customers.