Multiple Choice
Autarky is defined as
A) the relative cost to produce and consume.
B) the absence of trade.
C) the amount of labor required to produce 1 unit of a product.
D) the slope of the production possibilities frontier.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q147: When nations are of similar size and
Q148: The best explanation of the gains from
Q149: There are two explanations of constant opportunity
Q150: If a production possibilities frontier appears as
Q151: For the commodity terms of trade to
Q153: Ricardo's theory of comparative advantage was of
Q154: In autarky equilibrium, a nation realizes the
Q155: According to the principle of absolute advantage,
Q156: The equilibrium prices and quantities established after
Q157: If the U.S.post-trade consumption point lies along