Suppose a Country Had $3

question 3

Multiple Choice

Suppose a country had $3.5 billion of net exports and bought $6.8 billion of goods and services from foreign countries. This country would have

• A) $10.3 billion of exports and $6.8 billion of imports.
• B) $10.3 billion of imports and $6.8 billion of exports.
• C) $6.8 billion of exports and $3.5 billion of imports.
• D) $6.8 billion of imports and $3.5 billion of exports.

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Definitions:

Measure of Central Tendency

A statistical measure that identifies a single value as representative of an entire distribution.

Parameter

A numerical characteristic or measure that describes an aspect of a population.

Statistic

A single measure that is calculated from data to summarize or describe a characteristic of a sample.

Sample

A selection of individuals or items from a larger group or set that is used to gather and analyze data representative of the whole.