The Transactions Costs of Writing and Enforcing Contracts Are Higher

question 16

Multiple Choice

The transactions costs of writing and enforcing contracts are higher in:

• A) countries with poorly-enforced property rights.
• B) countries with strongly-enforced property rights.
• C) all counties with good court systems.
• D) countries without political risks of property confiscation.

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Definitions:

P-value

A function of the observed sample results in a statistical hypothesis test, representing the probability of obtaining test results at least as extreme as the results actually observed, under the assumption that the null hypothesis is correct.

Speeds

Rates at which an object covers distance, often measured in units like miles per hour or kilometers per hour.

ANOVA Table

A statistical table used to analyze the differences among group means in a sample by comparing variance estimates.

F-ratio

a statistical measure used in the analysis of variance (ANOVA) to compare the variance between groups to the variance within groups.