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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

Related Questions on Foundations of Modern Trade Theory Mcqs

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