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

Related Mcqs:

International trade is based on the nation that ?

A. Different currencies are an obstacle to international trade B. Goods are more mobile internationally than are resources C. Resources are more mobile internationally that are goods D. A country’s exports should always exceed its imports...

The classical trade theories of Smith and Ricardo predict that ?

A. Countries will completely specialize in the production of export goods B. Considerable trade will occur between countries with different levels of technology C. Small countries could obtain of the gains from trade when trading with large countries D. All of the above...

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...