When a Country Imports More Than It Exports, It Has

question 136

True/False

When a country imports more than it exports, it has a favourable balance of trade.

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Definitions:

Median

A measure of central tendency in statistics, representing the middle value in a set of data when arranged in order.

Standard Deviation

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

Percentile Score

The percentage of people someone scores higher than on a scale or test; a score at the 90th percentile means someone scores higher than 90% of the people who took the scale.

Normal Distribution

A symmetrical bell-shaped distribution in which most of the data points cluster around the mean, with decreasing frequency toward the tails.