Crude oil is not an example of a factor of production, but when ...

[Chloeellawright]

Crude oil is not an example of a factor of production, but when crude oil is processed into gasoline, it is a factor of production.
 
  Indicate whether the statement is true or false

Question 2

Which of the following is the best example of a voluntary export restraint?
 
  A) a 5,000 per-car fee imposed on all sports utility vehicles imported into the United States
  B) a subsidy granted by the U.S. government to domestic sports utility vehicle manufacturers so they can compete more effectively with foreign sports utility vehicle manufacturers
  C) a tax placed on all sports utility vehicles sold in the domestic market
  D) a limit set by the Japanese government on the number of sports utility vehicles that the United States can import from Japan

[frre432]

Answer to Question 1

FALSE

Answer to Question 2

D