When the United States gives MFN status to China, it means that
A) China is treated better than other U.S. trading partners.
B) China is treated the same as other U.S. trading partners.
C) China is treated worse than other U.S. trading partners.
D) China is better than all the nations in the WTO.
E) China is legally bound to reciprocate.
B
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In a two-country world, an increase in foreign input prices, ceteris paribus,
A) shifts the SRAS curve leftward, causing the price level to increase. B) shifts the SRAS curve leftward, causing the price level to decrease. C) shifts the SRAS curve rightward, causing the price level to increase. D) shifts the SRAS curve rightward, causing the price level to decrease. E) does not affect the SRAS curve or the price level.
In order to benefit from diversification, the returns on assets in a portfolio must:
A. be perfectly negatively correlated. B. have the same idiosyncratic risks. C. be perfectly positively correlated. D. positively correlated but not perfectly.