Econ 333 lesson 2 review Study guides, Study notes & Summaries
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ECON 333 Lesson 2 Review Latest 2023 Question and Answers 100% Correct Highly Recommended Graded A Lesson 2: Exercise 1. In autarky, when a community maximizes its standard of living, its consumption point is:
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ECON 333 Lesson 2 Review Latest 2023 Question and Answers 
100% Correct Highly Recommended Graded A 
Lesson 2: Exercise 
1. In autarky, when a community maximizes its standard of living, its consumption point 
is:
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ECON 333 Lesson Practice Quiz Answers (Penn State University)
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ECON 333 Lesson Practice Quiz Answers (Penn State University)
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ECON 333 Lesson 2 Review
- Exam (elaborations) • 9 pages • 2020
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ECON 333 Lesson 2 Review
Lesson 2: Exercise 
1.	In autarky, when a community maximizes its standard of living, its consumption point is: 
A)	Below the production possibility frontier. 
B)	On the production possibility frontier. 
C)	Above the production possibility frontier. 
D)	Can’t tell without more information. 
 
2.	If the relative price of S in terms of T is 2 and S has a nominal price of $1, then the nominal price of T is: 
A)	$2. 
B)	50 cents. 
C)	1/2 S. 
D)	Need more informatio...