In the absence of trade, a nation is in equilibrium where a community indifference curve:
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.（ ）
- 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.
- A rich nation will trade with a poor nation because the:
- Introducing indifference curves into our trade model permits us to determine:
- Trade with any nation can be mutually beneficial.