Table 3-4 -Refer to Table 3-4. If Alberta and Manitoba Trade Based

question 190

Multiple Choice

Table 3-4

-Refer to Table 3-4. If Alberta and Manitoba trade based on the principle of comparative advantage, what will be exported?

• A)Alberta will export baskets and Manitoba will export birdhouses.
• B)Alberta will export birdhouses and Manitoba will export baskets.
• C)Alberta will export neither good and Manitoba will export both goods.
• D)Alberta will export both goods and Manitoba will export neither good.

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Definitions:

Null Hypothesis

In statistics, a hypothesis that proposes no significant difference or effect; the hypothesis that a researcher tries to disprove.

Alpha Level

The threshold of significance in hypothesis testing, representing the probability of making a Type I error.

Confidence Interval

A range of values, derived from sample statistics, used to estimate the true parameter of a population with a specified level of confidence.

Null Hypothesis

A statement in statistical hypothesis testing that proposes no significant difference or effect, assumed true until evidence suggests otherwise.