Given the Information in the Table Above

question 46

Multiple Choice

Given the information in the table above

• A) neither country has a comparative advantage in cloth.
• B) Home has a comparative advantage in cloth.
• C) Foreign has a comparative advantage in cloth.
• D) Home has a comparative advantage in both cloth and widgets.
• E) neither country has a comparative advantage in widgets.

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Definitions:

Negative Scores

Values that fall below the established point of origin or benchmark in a data set, indicating a deficit or loss.

Inferential Statistics

The branch of statistics that aims to draw conclusions about a population based on a sample.

Variables

Any traits, factors, or quantities that can assume different values in a given study.

Z-scores

Z-scores are statistical measurements that describe a value's relationship to the mean of a group of values, expressed in terms of standard deviations.