The Table Below Shows Labor-Productivity Figures in Two Countries Facing

question 88

Multiple Choice

The table below shows labor-productivity figures in two countries facing constant costs: Refer to the table above. Based on the data provided, it can be deduced that:

• A) Country A can produce more meat and houses than country B
• B) Country A has a comparative advantage in producing houses
• C) Country B has the absolute advantage in producing houses
• D) Country B has a comparative advantage in producing houses

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Definitions:

T Value

A value calculated from sample data used to assess whether a null hypothesis should be rejected in the context of a t-test.

Population's Standard Deviation

A measure of the dispersion or spread of scores within a given population, indicating the average distance from the mean.

Observed Z Value

The value resulting from a Z-test statistic used in hypothesis testing, representing how many standard deviations an observation is from the mean.

Sample Mean

The average value of a set of numbers in a sample taken from a larger population. It is used to estimate the population mean.