The Law of Comparative Advantages Explains Why

question 56

Multiple Choice

The law of comparative advantages explains why

• A)advanced nations will not trade with less-developed countries.
• B)an advanced nation will not trade with other countries.
• C)less-developed countries only trade among themselves.
• D)nations trade with each other, regardless of their relative levels of economic development.
• E)nations erect trade barriers.

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Definitions:

Critical Value

A critical value is a point on the distribution that represents a threshold above which significant results are considered to occur.

Statistical Hypotheses

Statements made for statistical testing, including a null hypothesis and possibly an alternative hypothesis, concerning the parameters or distribution of a population.

Research Hypotheses

Proposals made by researchers that predict a potential outcome, relationship, or effect that will be tested through study or experimentation.

Data Analysis

The process of inspecting, cleansing, transforming, and modeling data to discover useful information and support decision-making.