A situation in which a country does not take part in international trade is known as
A) autarky.
B) openness neglect.
C) indifference tradeoff.
D) protectionist point.
A
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The XYZ Co is hiring salespersons. They will be paid a very attractive hourly rate that is independent of how much they sell. Describe an adverse selection that would take place. Describe a moral hazard that would take place
What will be an ideal response?
As real GDP per year increases along the short-run aggregate supply (SRAS) curve, the SRAS curve
A) becomes increasingly steep. B) begins to level out. C) shifts inward. D) does not change.
A firm enters into a consent decree to avoid an even greater legal setback. If the terms of the consent decree effectively double the firm's fixed costs, then
a. marginal cost more than doubles b. marginal cost doubles c. marginal cost remains unchanged d. average total cost remains unchanged e. average variable cost doubles
A higher U.S. exchange rate means that
A) foreign products are now more expensive to U.S. citizens. B) foreign products are now cheaper to U.S. citizens. C) U.S. products are now more expensive to U.S. citizens. D) U.S. products are now cheaper to foreign countries.