If, in autarky, the country is producing 700 computers and is located at point M on the PPF, the country would be producing autos. If the country is now opened to trade at a terms of trade of 1 auto: 2 computers (or 1 computer: 0.5 auto), it would export. (A) 120; computers B 120; autos C) 280; autos (D) 280; computers

If, in autarky, the country is producing 700 computers and is located at point M on the PPF, the country would be producing autos. If the country is now opened to trade at a terms of trade of 1 auto: 2 computers (or 1 computer: 0.5 auto), it would export. (A) 120; computers B 120; autos C) 280; autos (D) 280; computers

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter7: Economic Growth: Theory And Policy

Section: Chapter Questions

Problem 4TY

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