If countries were to trade along the lines 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...

If the international terms of trade settle at a level that is between each country’s opportunity cost ?

A. There is no basis for gainful trade for either country B. Both countries gain from trade C. Only one country gains from trade D. One country gain and the other country loses from trade...

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...