Which One of the Following Conditions Does Not Exist If

question 56

Multiple Choice

Which one of the following conditions does not exist if absolute purchasing power parity exists?

• A)Goods are identical.
• B)Trade barriers are nonexistent.
• C)Transaction costs are equal to zero.
• D)Goods have equal economic values.
• E)Goods differ based on geographic location.

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Definitions:

Monopolies

Market structures in which a single seller dominates trade in a good or service, often leading to reduced competition and higher prices.

Sole Bargaining Agent

The exclusive union designated to represent and negotiate on behalf of all employees in a bargaining unit, regardless of union membership.

National Labor Relations Act

A foundational statute of US labor law which protects the rights of employees and employers, encourages collective bargaining, and curtails certain private sector labor and management practices.

Supreme Court

The highest federal court in the United States, which has the ultimate appellate jurisdiction over all federal and state court cases that involve a point of federal law.