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

Related Mcqs:

1. 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

2. Suppose an oligopolist individually maximizes its profits. When calculating profits, if the output effect exceeds the price effect on the marginal unit of production, then the oligopolist ?

   A. Should produce more units
   B. has maximized profits.
   C. is in a Nash equilibrium
   D. Should produce fewer units
   E. should exit the industry.

3. In autarky, the relative price of X, in terms of Y in A would be ?

   A. 1/2 Y
   B. 3/4 Y
   C. 1 Y
   D. 4/3 Y

4. In autarky, the relative price of wine, in terms of beer, in country A is ?

   A. 1W = 1B
   B. 1W = 2B
   C. 1W = 3B
   D. 1W = 1/3B

5. In autarky equilibrium ?

   A. Production equals consumption
   B. Exports equal imports
   C. there is no trade
   D. All of the above

6. If the autarky price of S were lower in country A than in country B then if trade were allowed ?

   A. A would likely export S to B
   B. A would likely import S from B
   C. neither country would want to trade
   D. None of the above

7. In autarky the relative price of wine, in terms of beer, in Country B is ?

   A. 1W = 3B
   B. 1W = 4 1/2B
   C. 1W = 5B
   D. 1W = 6B

8. The standard of living in a country is represented by its ?

   A. National income
   B. Per capita income
   C. Poverty ratio
   D. None of these

9. A monopolist maximizes profit by producing the quantity at which ?

   A. marginal revenue equals marginal cost
   B. marginal revenue equals price
   C. marginal cost equals price
   D. marginal cost equals demand
   E. none of these answers

10. Suppose your income rises from Rs19,000 to Rs31,000 while the CPI rises from 122 to 169 Your standard of living has likely ?

    A. fallen
    B. You can’t tell without knowing the base year
    C. risen
    D. stayed the same