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.Management Sciences
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
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...
- If the autarky price of S were lower in country A than in country B then if trade were allowed ?
- A. A would likely export S to B B. A would likely import S from B C. neither country would want to trade D. None of the above...
- 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)...
- 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...
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