The Focal Point Phenomenon

question 78

Multiple Choice

The focal point phenomenon:

• A) explains why production tends to take place in countries that have fewer trade barriers.
• B) explains why production tends to take place in a few select countries rather than being evenly distributed across countries.
• C) argues that transportation costs make it unprofitable to locate production in other countries.
• D) argues that trade barriers force countries to locate production in other countries.

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Definitions:

Photograph Cover

The front image or picture on a magazine, book, or album designed to represent its contents or appeal to consumers.

Chi-square Statistic

A statistic that measures the difference between observed frequencies in a sample and the frequencies that would be expected by chance.

Null Hypothesis

A statement that there is no effect or no difference, and it is the statement being tested in statistical hypothesis testing.

Economic Concerns

Issues related to the health and functioning of an economy, including inflation, unemployment, and GDP growth.