If the relative Price (MRT) of T were to increase, then the price line would ?

G. MecDougall showed in his tests that ?

A. relatively higher U.S labor productivity was associated with relatively higher U.K export ratios

B. relatively high U.K labor productivity was associated with relatively higher U.K export ratios

C. Labor productivity ratios and export ratios were not associated with each other

D. None of the above

Dynamic gains from trade could result from ?

A. The stimulus of additional investment spending as market open

B. Economies of large scale production as markets open

C. Additional competition made possible by the opening of markets

D. All of the above

Under free trade, Canada would not realize any gains from trade with Sweden if Canada ?

A. Trades at Canada’s marginal rate of transformation

B. Trade at Sweden’s marginal rate of transformation

C. Specializes completely in the production of its export good

D. Specializes partially in the production of its exports goods

In autarky, when a community maximizes its standard of living its production point is ?

A. below the production possibility frontier

B. on the production possibility frontier

C. above the production possibility frontier

D. can’t tell without more information

In aukarky, when a community maximizes its standard of living, its production and consumption point is ?

A. below the production possibility frontier

B. On the production possibility frontier

C. above the production possibility frontier

D. can’t tell without more information