If a country can produce 10 of product A or 4 of product B the opportunity cost of 1B is ?

Related Mcqs:

International trade forces domestic firms to become more competitive in terms of ?

A. The introduction of new products B. Product design and quality C. Product price D. All of the above...

The term tariff, as used in international trade refers to ?

A. The price of goods when they leave the producing country B. a limit on the quantity of a good that can be imported into a country C. a tax on imports D. a government payment to encourage exports...

An optimal tariff is one which reduces imports to the level at which ____ equals ____?

A. imports, exports B. the balance of trade, zero C. The demand for currency the supply of currency D. social marginal cost, social marginal benefit...

Free traders maintain that an open economy is advantageous is that it provides all of the following except ?

A. Increased competition for world producers B. A wider selection of products for consumers C. The utilization of the most efficient production methods D. Relatively high wages levels for all domestic workers...

When free trade areas are set up the member countries trade with each other grows faster than their trade with other countries This is due to what economist call ?

A. trade diversion B. trade channeling C. trade creation and trade diversion D. trade creation...