Which of the following is not true for a nation that produces and consumers only two products X and Y and it is in equilibrium under autarky?

Question

Which of the following is  not true  for a nation that produces and consumers only  two products X and Y and it is in equilibrium under autarky?

Answer

The total value of Its imports is greater than the total value of its exports

Answer

its social indifference curve is tangent to the nation's production possibility frontier at its optimal consumption and production point on the production possibility frontier

Answer

It reaches the highest indifference curve possible subject to its production possibility frontier

Answer

The opportunity cost of product X in terms of product Y is equal to the price of X in terms of product Y when the price of Y =1

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Which of the following is not true for a nation that produces and consumers on...

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