International Trade Might Have Approached the Comparative Advantage Model in the 19th

question 17

True/False

International trade might have approached the comparative advantage model in the 19th century, and it does so even more today.

---

Definitions:

Level Of Significance

A predetermined threshold of probability below which the null hypothesis is rejected in hypothesis testing, typically set at 0.05 (5%).

Null Hypothesis

A hypothesis stating there is no significant difference or effect, or a specified parameter equals a certain value, in the population being studied.

Critical Value(s)

Threshold(s) in hypothesis testing that define the boundary or boundaries for rejecting the null hypothesis.

Null Hypothesis

A statement in hypothesis testing that there is no significant difference or effect, serving as the default assumption to be tested against.