International trade is based on the nation that ?

Related Mcqs:

Country A has an absolute advantage in__________?

A. Product X B. Product Y C. Neither X nor Y D. Both X and Y...

If the countries were to trade along the lines of absolute advantage ?

A. A would export X to B B. B would import Y from A C. Neither country would want to trade D. None of the above...

Mercantilism ?

A. Is the philosophy of free international trade? B. Was a system of export promotion and barriers to imports practiced by governments? C. Was praised by Adam Smith in the Wealth of Nations D. Both (a) and (c)...

In aukarky, when a community maximizes its standard of living, its production and consumption point is ?

A. below the production possibility frontier B. On the production possibility frontier C. above the production possibility frontier D. can’t tell without more information...

In autarky, when a community maximizes its standard of living its production point is ?

A. below the production possibility frontier B. on the production possibility frontier C. above the production possibility frontier D. can’t tell without more information...