If a nation has a steeper indifference curve relative to that of another nation it means that
A) it has stronger tastes and preferences for good Y
B) it has stronger tastes and preferences for good X
C) it has a higher opportunity costs for good Y
D) it has a higher opportunity costs for good X
Correct Answer:
Verified
Q2: The marginal rate of transformation (MRT)of X
Q5: The gains from exchange with respect to
Q6: Which of the following is not true
Q10: Under which circumstance is it not possible
Q12: With free trade under increasing costs:
A)neither nation
Q13: The primary factor for the loss in
Q14: If Px/Py exceeds the equilibrium relative Px/Py
Q14: If nations have identical production possibilities frontiers
Q15: Which of the following statements is false?
A)
Q16: The marginal rate of substitution (MRS)of X
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