An Effect of International Trade Is

question 110

Multiple Choice

An effect of international trade is

• A) the increase in the average price of goods as the cost of transportation has to be included.
• B) the transmission of ideas around the world.
• C) that only countries that have absolute advantage in producing a good can participate.
• D) that the United States has a trade surplus.

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Definitions:

ANOVA

Analysis of Variance, a statistical method used to test differences between two or more means.

Fertilizer

Substances added to soil to supply nutrients that aid in plant growth, available in organic or synthetic forms.

F-ratio

A statistic used in ANOVA tests to compare the variances between groups, determining if the means of several groups are equal.

Residual

In statistical modeling, the difference between observed values and the values predicted by a model.