For Countries to Be Wealthy, They Need Lots of Physical

question 181

True/False

For countries to be wealthy, they need lots of physical and human capital per worker, which, in turn, depends on a system of private property rights, political stability, a just legal system, honest government, and competitive and open markets.

---

Definitions:

P-value

The probability of achieving outcomes in a test that are equally or more extreme than the actual observed ones, given the null hypothesis is assumed to be correct.

Null Hypothesis

The hypothesis that there is no significant difference or effect, typically the initial assumption to be tested in statistical hypothesis testing.

Alternative Hypothesis

The alternative hypothesis is a statement used in statistical testing that proposes a relationship between variables or indicates a difference, contrasting with the null hypothesis.

Slope

A measure of the steepness or incline of a line, typically calculated as the ratio of the vertical change to the horizontal change between two points on the line.