According to the Text, the 17 Countries with High Degrees

question 85

Multiple Choice

According to the text, the 17 countries with high degrees of economic freedom

• A)account for 81 percent of total world output.
• B)account for less than 25 percent of total world output.
• C)have the weakest economies.
• D)have low productivity.

---

Definitions:

Posterior Probability

The probability of a hypothesis or event occurring given the evidence or data observed.

Prior Probability

The probability of an event before new evidence is considered, used in Bayesian statistics as a part of updating the probability based on new information.

Posterior Probability

is the probability of the hypotheses given the observed data, calculated using Bayes' theorem.

Prior Probability

The likelihood of an event occurring before new evidence is taken into account.