Provide an Appropriate Response

question 242

Multiple Choice

Provide an appropriate response.
-If a hypothesis test is conducted at a significance level of 0.05, which of the following statements is true?

• A)The probability that the result will be significant is 0.05.
• B)The probability that the null hypothesis will be rejected when it is true is 0.05.
• C)The probability that the null hypothesis will not be rejected when it is false is 0.05.
• D)The probability that the null hypothesis will be rejected when it is false is 0.05.

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Definitions:

Labor-Abundant

Describes an economy or sector that has a high availability of labor relative to capital.

Land-Abundant

A description of a country or region that has a large amount of land available for agriculture or development relative to other inputs.

Urbanized

Characterized by or pertaining to regions that are densely populated with humans and typically have a lot of developed infrastructure.

Heckscher-Ohlin Model

An economic theory that explains international trade in terms of differences in the relative endowments of factors of production among nations, suggesting that countries will export goods that make intensive use of locally abundant factors.