Opening Trade Between Two Nations Would

question 108

Multiple Choice

Opening trade between two nations would

• A) shift their production possibilities curves outward.
• B) shift their production possibilities curves inward.
• C) leave the production possibilities unchanged and increase their consumption possibilities.
• D) leave the production possibilities unchanged and decreased their consumption possibilities.

---

Definitions:

Inferential Statistics

The field of statistics focused on drawing conclusions or making forecasts about a whole population from a subset of collected data.

Probability

An indicator of how probable an event is, represented numerically between 0 and 1.

Nonrandom Sampling

A sampling technique where the samples are gathered in a process that does not give all the individuals in the population equal chances of being selected.

Sampling Error

Sampling error is the discrepancy between a sample statistic and its corresponding population parameter, caused by selecting a sample rather than conducting a census.