Find the Ranks Corresponding to the Ages of Five Statistics

question 14

Multiple Choice

Find the ranks corresponding to the ages of five statistics professors when they were hired: 47, 51, 47, 47, 48

• A) 1, 3, 1, 1, 2
• B) 2, 5, 2, 2, 4
• C) 3, 5, 3, 3, 4
• D) 2, 4, 2, 2, 3

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Definitions:

Dumping

A firm’s or an industry’s sale of products on the world market at prices below its own cost of production.

Natural Comparative Advantage

A situation where a country or region can produce a particular good or service at a lower opportunity cost compared to other countries or regions.

Factor Endowments

Refers to the quantity and quality of resources a country or region has available, such as labor, land, and capital.

Heckscher-Ohlin Theorem

An economic theory stating that countries export what they can most efficiently and abundantly produce.