A Country Experiences a Trade Surplus When the Total Value

question 62

True/False

A country experiences a trade surplus when the total value of exports is higher than the total value of imports.

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Definitions:

Outliers

Data points that differ significantly from the majority of a data set, often indicating a variance or error in measurement.

Variability

The tendency of data points in a dataset to vary from each other and from the mean of the dataset.

Mode

The value that appears most frequently in a data set, representing the highest peak in a frequency distribution.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values from the mean.