22. True or False: A company with high growth potential will tend to retain earnings and not pay out dividends to shareholders. In this case, the price of the stock and the capital gains enjoyed by shareholders both tend to increase more than for a company that pays out dividends. 23. True or False: A mature, low-growth company will likely pay out dividends to its shareholders, and some shareholders prefer to receive dividends. 24. Oil companies like Exxon Mobil have investments in multiple different levels of the industry, from extraction facilities to refineries to distribution. These different but related investments are an example of integration. 25. True or False: Purchasing Power Parity exists if identical products in two countries with different currencies cost the same amount because the exchange rates will adjust to cause this to happen. PPP is also know as the law of one price, and this is generally true, even though not always completely perfectly