Tom and Jerry Have Two Tasks to Do All Day

question 81

Multiple Choice

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.At the end of the day,Tom could have:

• A) (16 dishes, 4 fences) or (8 dishes, 2 fences).
• B) (8 dishes, 2 fences), or (4 dishes, 6 fences).
• C) (8 dishes, 2 fences), or (4 dishes, 3 fences).
• D) (12 dishes, 3 fences), or (8 dishes, 3 fences).

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Definitions:

Dispute Settlement Understanding

An agreement that is part of the WTO system whereby recognized governments of WTO member states may bring an action alleging a violation of GATT by other member states.

WTO Member States

Countries that are members of the World Trade Organization, which deals with the global rules of trade between nations.

GATT

The General Agreement on Tariffs and Trade, an international treaty designed to encourage international trade by reducing trade barriers and tariffs.

Actionable Subsidy

A financial contribution provided by a government that is subject to legal action or dispute due to its trade-distorting effects.