The Existence of Any "Gains from Trade" Relies on

question 83

Multiple Choice

The existence of any "gains from trade" relies on

• A)closed economies.
• B)absolute advantage.
• C)comparative advantage.
• D)both absolute and comparative advantage.
• E)tariffs

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Definitions:

Confidence Interval

A range of values, derived from sample data, that is likely to contain the value of an unknown population parameter, expressed with a certain level of confidence.

Population Standard Deviation

A measure of the dispersion or spread of all members of a population from its mean value.

Interval Estimate

A range of values used to estimate a population parameter, typically expressed through confidence intervals.

Population Mean

The average value of a population's characteristic, calculated by summing all values and dividing by the population size.