The Simple Comparative Advantage Model Assumed That Trade

question 97

Multiple Choice

The simple comparative advantage model assumed that trade

• A) changes efficiency with which a country utilizes resources.
• B) changes a country's stock of resources.
• C) allows for dynamic changes in the marketplace.
• D) does not change a country's stock of resources.

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Definitions:

Error

In statistics, this refers to the difference between a measured or observed value and the true value; it can be due to measurement inaccuracy or variability in the data.

ANOVA

A statistical method used to determine the presence of significant differences between the means of three or more independent groups.

Observations

Data collected or measured from a study or experiment regarding individuals, subjects, or phenomena.

Degrees of Freedom

The total number of individual values or figures that a statistical distribution can possess.