If a nation has ________ status conferred on it, then exports from that country are taxed at the lowest negotiated tariff rates.
A. most-favored-nation
B. total-trade-guaranteed
C. international-ally
D. no-child-labor
Answer: A
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The term structure of interest rates
A) represents the relationship among the interest rates on bonds that are otherwise similar but that have different maturities. B) reflects differing tax treatment received by different instruments. C) always results in an upward-sloping yield curve. D) usually results in a downward-sloping yield curve.
Figure 14.2 represents the market for used cameras. Suppose buyers are willing to pay $125 for a plum (high-quality) used camera and $25 for a lemon (low-quality) used camera. If buyers believe that 50% of used cameras in the market are lemons (low quality), what fraction of used cameras sold will actually be lemons (low quality)?
A. 10/25 B. 10/35 C. 25/35 D. All of the cameras sold will be lemons.
Evaluate this statement: "People engaged in economizing behavior will always buy the lowest priced item they can find."
The indifference curves for nickels and dimes will be
A. a straight line with negative slope. B. a straight line with positive slope. C. concave. D. L-shaped.