Suppose there are only two people in the world. Each person’s production possibilities frontier also represents his or her consumption possibilities when
A: neither person faces trade-offs.
B: the frontiers are straight lines.
C: the frontiers are bowed out.
D: they choose not to trade with one another.
A: neither person faces trade-offs.
B: the frontiers are straight lines.
C: the frontiers are bowed out.
D: they choose not to trade with one another.
举一反三
- 中国大学MOOC: Suppose there are only two people in the world. Each person’s production possibilities frontier also represents his or her consumption possibilities when
- Production efficiency occurs when production ( ). A: is at a point beyond the production possibilities frontie B: is on the production possibilities frontier or inside it C: is at any attainable point D: is on the production possibilities frontie
- A rise in the price of imports or a fall in the price of exports will A: improve the terms of trade B: worsen the terms of trade C: Expand the production possibilities curve D: Contract the production possibilities curve
- On a production possibilities frontier, production is efficient if the production point is
- Mutually beneficial trade cannot occur if production frontiers are:(<br/>) A: equal but tastes are not B: different but tastes are the same C: different and tastes are also different D: the same and tastes are also the same.