If a Country Has the Comparative Advantage in Producing Cloth,in

question 161

Multiple Choice

If a country has the comparative advantage in producing cloth,in the market for cloth the autarky price would be _____ the world price and the country would _____ cloth.

• A)less than;export
• B)greater than;export
• C)less than;import
• D)the same as;export

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Definitions:

Class Interval

The range of values into which data are grouped for frequency distribution purposes, often used in histograms.

Histogram

A graphical representation of data using bars of different heights to show the frequency of data in successive intervals.

Frequency Polygon

A graphical representation of the distribution of a dataset that shows how often each value occurs, connecting the middle of each interval.

Histogram

A graphical representation of the distribution of numerical data, often displaying the frequency of data points within specified intervals.