The Navigation Acts:
a. placed tariffs on the import of British goods by the colonies.
b. prohibited trade between the British West Indies and the colonies.
c. allowed colonial trade on British ships commanded by foreign captains.
d. encouraged trade between the colonies and the Dutch.
e. None of the above is correct.
Question 2
A vertically integrated firm is a firm that
a. combines firms which formerly competed.
b. manages all stages of production, from the production of raw materials to the marketing of the final product, within the firm.
c. earns zero economic profits due to the highly competitive market within which it operates.
d. has representatives on its board of directors from many of the companies that it buys from and sells to.
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