If the relative Price (MRT) of T were to increase, then the price line would ?

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 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...

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...