If a country has a bowed out (concave to the origin) production possibility frontier then production is said to be subject to ?

Related Mcqs:

According to the Principle of absolute advantage Japan should ?

A. Export steel B. Export DVDs C. Exports steel and DVDs D. There is no basis for gainful specialization and trade...

With International trade, what would be the maximum amount of steel that South Korea would be willing to export to Japan in exchange for each DVD ?

A. One-half ton of steel B. One ton of steel C. Two tons of steel D. Two and one-half tons of steel...

In autarky, the relative price of wine, in terms of beer, in country A is ?

A. 1W = 1B B. 1W = 2B C. 1W = 3B D. 1W = 1/3B...

The opportunity cost of one DVD in South Korea is ?

A. One-half ton of steel B. One ton of steel C. One and one-half tons of steel D. Two tons of steel...

In autarky the relative price of wine, in terms of beer, in Country B is ?

A. 1W = 3B B. 1W = 4 1/2B C. 1W = 5B D. 1W = 6B...