The Principal Components Methodology Used in Discriminant Analysis Determines the Values

question 20

True/False

The principal components methodology used in discriminant analysis determines the values in the linear combination that explains as much variance between correlation matrices as possible.

Understand the concept of opportunity cost and how to calculate it using production possibility frontiers.

Identify sources of comparative advantage in international trade.

Explain the difference between absolute and comparative advantage.

Apply the concepts of opportunity cost and comparative advantage to analyze trade patterns between countries.

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Definitions:

1900

The year 1900 marks the turn of the 20th century, known for the peak of the Second Industrial Revolution, the Boxer Rebellion in China, and as the year before the assassination of Queen Victoria's son, King Umberto I of Italy.

Russian-Germans

Individuals or descendants of those who migrated from Germany to Russia, particularly during the 18th and 19th centuries.

Czar Alexander II

The Emperor of Russia from 1855 to 1881, known for emancipating the serfs in 1861 and implementing significant reforms.

Communist Rule

A system of government where the state plans and controls the economy and a single, often authoritarian party holds power, claiming to make progress toward a higher social order in which all goods are equally shared by the people.