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 federal income tax is progressive because the tax rates increase at higher income levels
a. True b. False Indicate whether the statement is true or false
If the Federal Reserve increases the interest rate on bank deposits at the Fed, banks will want to hold
a. fewer reserves, so the money multiplier will fall. b. fewer reserves, so the money multiplier will rise. c. more reserves, so the money multiplier will fall. d. more reserves, so the money multiplier will rise.
The most effective form of business organization for raising money to finance the expansion of its facilities and capabilities is a:
A. partnership. B. conglomerate. C. sole proprietorship. D. corporation.
Suppose Robin's Clock Works produces in a perfectly competitive market. Suppose the average total cost of clocks is $95, the average variable cost of clocks is $90, and the price of clocks is $85. If the firm is producing the level of output where marginal cost equals price, then in the short run the firm:
A. should shut down. B. should continue to produce since total revenue exceeds total variable cost. C. is earning a positive economic profit. D. can increase profit by increasing output.