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If a Country Has the Comparative Advantage in Producing Cloth,in

question 161

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If a country has the comparative advantage in producing cloth,in the market for cloth the autarky price would be _____ the world price and the country would _____ cloth.


Definitions:

Government's Definition

The official or formal explanation or meaning of a term as provided by a government authority.

T-test

A statistical test used to compare the means of two groups.

Null Hypothesis

A statement in statistics that proposes there is no significance difference or effect, generally serving as the default or starting assumption in hypothesis testing.

Alpha

The threshold for significance in statistical testing, typically set at 0.05, below which the null hypothesis is rejected.

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