Which of the Following Is True of Autarky

question 68

Multiple Choice

Which of the following is true of autarky?

• A) A country's consumption possibilities are the same as its production possibilities.
• B) Equilibrium is attained with the maximum gains from specialization and trade.
• C) There is no legal limit on the amount of a commodity that can be imported.
• D) Countries export products they can produce more cheaply in return for products that are unavailable domestically or are cheaper elsewhere.
• E) World price is determined by the world supply and demand for a product.

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Definitions:

\(a _ { 5 }\)

Typically denotes the fifth term in a sequence or series, depending on the context of its use.

\(\left( - \frac { 1 } { 5 } \right) ^ { n }\)

This represents a mathematical expression indicating the nth power of \(-\frac{1}{5}\).

Arithmetic

A branch of mathematics dealing with numbers and basic operations such as addition, subtraction, multiplication, and division.

Common Difference

The constant difference between successive terms of an arithmetic sequence.