Autarky is a situation in which a country is economically
A. dependent on trade.
B. underdeveloped.
C. self-sufficient.
D. destroyed.
Answer: C
You might also like to view...
Refer to Figure 15-6. In the figure above, if the economy is at point A, the appropriate monetary policy by the Federal Reserve would be to
A) raise income taxes. B) raise interest rates. C) lower income taxes. D) lower interest rates.
When the unemployment rate is relatively high, we can conclude that:
What will be an ideal response?
In Figure 23.1, for a good with no externality, which area represents the total revenue to the producer? 
A. 0BCQ* B. BP*C C. 0P*CQ* D. AP*C
Which of the following statements is correct? Most economists
A. think that protectionism is a vital and necessary component in a nation's economic policy. B. prefer to let the market forces of supply and demand solve trade imbalances. C. believe that tariffs and quotas are efficient and effective measures. D. believe product standards, export subsidies, and exchange controls are desirable trade practices, but quotas and tariffs only provoke retaliation.