In the United States, consumers, businesses, governments, and foreigners participate in both the product and factor markets.
Answer the following statement true (T) or false (F)
True
Consumers, businesses, government agencies, and foreigners participate in the marketplace by offering to buy or sell goods and services as well as factors of production.
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"If the United States enters a war in the Middle East, gasoline prices will go up." This statement is an example of
A) a positive statement. B) an argument. C) a normative statement. D) a factual statement.
During the colonial period, the U.S. and other countries relied on "privateers.". Which of the following most accurately describes privateers?
a. Privateers were also known as pirates. b. Privateers were citizens who owned ships that attacked vessels from rival nations. c. Privateers were groups of convicts who stole from American sailing vessels. d. Privateers were a formal group part of the American Navy.