The Gains from Free Trade Are Enjoyed by a ________

question 201

Multiple Choice

The gains from free trade are enjoyed by a ________ number of people and the costs of free trade are imposed by a ________ number of people.

• A) small; large
• B) large; small
• C) small; small
• D) large; large

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Definitions:

Sigma

A symbol (σ) used in statistics to represent the standard deviation of a population.

Type II Error

The error that occurs when a hypothesis test fails to reject a false null hypothesis, also known as a false negative.

Level Of Significance

The threshold for determining whether a statistical result is not due to chance, often set at 0.05 or 5% in many scientific studies.

Sample Size

The amount of observations or data points obtained from a population for statistical analysis purposes.