The Ricardian trade model has been empirically
A production frontier that is concave from the origin indicates that the nation incur s increasing opportunity costs in the production of:
The marginal rate of transformation (MRT) of X for Y refers to:
Which of the following is not a reason for increasing opportunity costs:
Community indifference curves:
The marginal rate of substitution (MRS) of X for Y in consumption refers to the:
Which of the following statements is true with respect to the MRS of X for Y?
Which of the following statements about community indifference curves is true?
Which of the following is not true for a nation that is in equilibrium in isolation?
If the internal Px/Py is lower in nation 1 than in nation 2 without trade:
Nation 1 's share of the gains from trade will be greater:
If Px/Py exceeds the equilibrium relative Px/Py with trade
With free trade under increasing costs:
Which of the following statements is false?
The gains from exchange with respect to the gains from specialization are alway s:
