Without trade, the consumption possibilities for two nations are:
A. outside their production possibilities curve.
B. inside their production possibilities curve.
C. along their production possibilities curve.
D. at a point equal to the world production possibilities curve.
Answer: C
You might also like to view...
Sellers who charge different prices to different customers can increase their net revenue
A) by forcing some customers to pay more for the product than it is worth to them. B) by getting high-price customers in effect to subsidize sales to low-price customers. C) if the demand of some customers for the product enables the sellers to build volume by selling at prices below marginal cost. D) if they can prevent customers from reselling to one another.
Reports on the current consumer price index are released every
a. quarter. b. two weeks. c. month. d. week.
Technological advances make it possible to
A) produce goods without using any resources. B) obtain the same output by using more resources. C) obtain the same output by using fewer resources. D) lower labor productivity.
Which of the following would be expected if the tariff on foreign-produced automobiles were increased?
What will be an ideal response?