A Pearson Correlation of R = -0

question 32

True/False

A Pearson correlation of r = -0.90 indicates that the data points are clustered close to a line that slopes down to the right.

Understand the basic concepts and differences between domestic supply and demand curves, import demand curves, and export supply curves.

Analyze the impact of world prices on a country's desire to import or export goods.

Understand the purpose and effects of excise taxes, protective tariffs, revenue tariffs, import quotas, and voluntary export restrictions.

Identify and analyze the equilibrium prices and quantities in international trade scenarios.

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