If a country has a liner (downward sloping) production possibilities frontier, then production is said to be subjected to ?

Related Mcqs:

The opportunity cost of one DVD in Japan is ?

A. One ton of steel B. Two tons of steel C. Three tons of steel D. Four tons of steel...

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...

John Stuart Mill was the founder of the ?

A. Theory of reciprocal demand B. Theory of absolute advantage C. Theory of comarative advantage D. Theory of mercantilism...

Comparative advantage is determined by ?

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

Under free trade, Canada would not realize any gains from trade with Sweden if Canada ?

A. Trades at Canada’s marginal rate of transformation B. Trade at Sweden’s marginal rate of transformation C. Specializes completely in the production of its export good D. Specializes partially in the production of its exports goods...