Answered

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Other things equal, if Norway's trade with the euro zone amounts to 50 percent of its OND while its trade with the United States amounts to only 5 percent of CINP:
a) A fixed krone/euro exchange rate yields a greater monetary efficiency gain to Norwegian traders than a fixed krone/dollar rate.
b) A fixed krone/dollar exchange rate yields a greater monetary efficiency gain to Norwegian traders than a fixed krone/euro rate.
c) A fixed krone/euro exchange rate yields a smaller monetary efficiency gain to Norwegian traders than a fixed krone/dollar rate.
d) A fixed krone/euro exchange rate yields the same monetary efficiency gain to Norwegian traders as a fixed krone/dollar rate.

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