According to the principle of comparative advantage ?

Related Mcqs:

Absolute advantage is determined by ?

A. actual differences in labor production between countries B. relative differences in labor productivity between countries C. Both (a) and (b) D. Neither (a) nor (b)...

Country A has an absolute advantage in__________?

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

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...