In aukarky, when a community maximizes its standard of living, its production and consumption point is ?

Related Mcqs:

According to the Classical theory of international trade ?

A. Only countries with low wages will export B. Only countries with high wages will import C. Countries with high wages will have higher prices D. All of the above are false...

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...

According to the principle of comparative advantage ?

A. South Korea should export steel B. South Korea should export steel and DVDs C. Japan should export steel D. Japan should export steel and DVDs...

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

A. constant opportunity costs B. decreasing opportunity costs C. first increasing and then decreasing opportunity costs D. increasing opportunity costs...

Which countries terms of trade improved between 1990 and 2000 ?

A. Mexico and Denmark B. Sweden and Denmark C. Sweden and Spain D. Mexico and Sweden...