Suppose That the Country of Xenophobia Chose to Isolate Itself

question 55

Multiple Choice

Suppose that the country of Xenophobia chose to isolate itself from the rest of the world.Its ruler proclaimed that Xenophobia should become self-sufficient,so it would not engage in foreign trade.From an economic perspective,this idea would

• A)make sense if Xenophobia had an absolute advantage in all goods.
• B)make sense if Xenophobia had no absolute advantages in any good.
• C)not make sense as long as Xenophobia had a comparative advantage in some good.
• D)not make sense as long as Xenophobia had an absolute advantage in at least half the goods that could be traded.

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Definitions:

Design Features

Specific characteristics or aspects of a product, environment, or system that influence its function and aesthetics.

Formal Design

The planned and structured organization of elements in a system or artifact, following specific principles and guidelines.

Corporate Philosophy

A set of guiding principles and beliefs that define a company's values, ethics, and objectives, influencing its decisions and culture.

Norris-La Guardia Act

A 1932 U.S. federal law that restricted the power of federal courts to issue injunctions against non-violent labor disputes and made yellow-dog contracts unenforceable.