Most favored nation (MFN) status means that a country treats another country
A) better than its other trading partners.
B) the same as its other trading partners.
C) worse than its other trading partners.
D) any way it chooses since it is the "most favored nation."
E) None of the above.
B
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The "anchor" that sustains the credibility of monetary policy is ________
A) easily weighed during the slightest of macroeconomic storms B) composed of some indestructible substance C) necessary to avoid central bank independence D) available for scrutiny to all who care to observe
Tom and Jerry have two tasks to do all day: make dishes and build fences. If Tom spends all day making dishes, he will have make 16 dishes. If he instead devotes his day to building fences, Tom will build 4 fences. If Jerry spends his day making dishes, he will make 14 dishes; if he spends the day building fences, he will build 7 fences. The opportunity cost of one fence is ________ for Tom and ________ for Jerry. Therefore Tom should specialize in ________.
A. 4 dishes; 2 dishes; dishes B. 16 dishes; 14 dishes; fences C. 16 dishes; 14 dishes; dishes D. 4 dishes; 2 dishes; fences