Question

(c) the same in both industries (d) higher in the computer industry Answer questions 18-21 based on the following diagram T D H E $CIC_2$ F $CIC_1$ G $CIC_0$ S I 18. In autarky, the economy would be in general equilibrium at point (a) I. (b) D. (c) E. (d) F. 19. If tastes were to change so that S became more preferred relative to T, then, in autarky, production and consumption would move from their initial equilibrium to a point such as (a) C. (b) D. (c) E. (d) F. 20. Which of the following is true? (a) The relative price of S is higher at G than at D. (b) The relative price of T is higher at C than at F. (c) A move from C to D would raise community satisfaction. (d) All of the above are true. 21. In autarky equilibrium, the relative price is given by the slope of the production possibility frontier at point (a) D. (b) E. (c) F. (d) Can't answer without more information. Ricardian Model of International Trade

          (c) the same in both industries
(d) higher in the computer industry
Answer questions 18-21 based on the following diagram
T
D
H
E
$CIC_2$
F
$CIC_1$
G
$CIC_0$
S
I
18. In autarky, the economy would be in general equilibrium at point
(a) I.
(b) D.
(c) E.
(d) F.
19. If tastes were to change so that S became more preferred relative to T, then, in autarky, production
and consumption would move from their initial equilibrium to a point such as
(a) C.
(b) D.
(c) E.
(d) F.
20. Which of the following is true?
(a) The relative price of S is higher at G than at D.
(b) The relative price of T is higher at C than at F.
(c) A move from C to D would raise community satisfaction.
(d) All of the above are true.
21. In autarky equilibrium, the relative price is given by the slope of the production possibility frontier
at point
(a) D.
(b) E.
(c) F.
(d) Can't answer without more information.
Ricardian Model of International Trade

(c) the same in both industries
(d) higher in the computer industry
Answer questions 18-21 based on the following diagram
T
D
H
E
CIC2
F
CIC1
G
CIC0
S
I
18. In autarky, the economy would be in general equilibrium at point
(a) I.
(b) D.
(c) E.
(d) F.
19. If tastes were to change so that S became more preferred relative to T, then, in autarky, production
and consumption would move from their initial equilibrium to a point such as
(a) C.
(b) D.
(c) E.
(d) F.
20. Which of the following is true?
(a) The relative price of S is higher at G than at D.
(b) The relative price of T is higher at C than at F.
(c) A move from C to D would raise community satisfaction.
(d) All of the above are true.
21. In autarky equilibrium, the relative price is given by the slope of the production possibility frontier
at point
(a) D.
(b) E.
(c) F.
(d) Can't answer without more information.
Ricardian Model of International Trade

Added by Joseph R.

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