According to the principle of（ ）
A: Resources are directed to their highest productivity
B: The output of the nation’s trading partner declines
C: The nation can produce outside of its production possibilities curve
D: The problem of unemployment is eliminated
A: Resources are directed to their highest productivity
B: The output of the nation’s trading partner declines
C: The nation can produce outside of its production possibilities curve
D: The problem of unemployment is eliminated
举一反三
- A nation maximizes satisfaction by reaching the highest possible indifference curve， and in the absence of trade will produce where its production possibilities schedule is tangent to an indifference curve.（ ）
- When a nation requires fewer resources than another nation to produce a product, the nation is said to have a(n): A: Absolute advantage in the production of the product B: Comparative advantage in the production of the product C: Lower marginal rate of transformation for the product D: Lower opportunity cost of producing the product
- If an economy is represented by a point inside its production possibilities curve:
- When a nation is in autarky and maximizes its living standard, its consumption and production points are:
- The best no-trade point for a country on an increasing cost production possibilities curve is where: ( ) A: the curve touches the vertical axis. B: the curve touches the horizontal axis. C: the origin. D: the curve touches the highest indifference curve.