About Two-Thirds of the Reduction in Tariffs in the Past

question 7

Multiple Choice

About two-thirds of the reduction in tariffs in the past 20 years comes from:

• A) reforms by national governments changing their own policies or making agreements with each other.
• B) the work of the WTO, World Trade Organization.
• C) specific funding directed at encouraging trade through subsidies by the World Bank.
• D) None of these statements is true.

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Definitions:

P Value

The probability of obtaining test results at least as extreme as the ones observed during the test, assuming that the null hypothesis is true.

Degrees of Freedom

The number of independent pieces of information used to estimate a parameter or calculate a statistic, often linked to the sample size.

P Value

The probability of obtaining test results at least as extreme as the observed results, assuming that the null hypothesis is true.

Statistical Power

Probability of rejecting the null hypothesis when the alternative hypothesis is true.