A Country's Comparative Advantage Is Measured Only in Manufactured Goods

question 67

True/False

A country's comparative advantage is measured only in manufactured goods.

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Definitions:

Permutation

In an experiment we may be interested in determining the number of ways n objects may be selected from among N objects when the order in which the n objects are selected is important. Each ordering of n objects is called a permutation and the total number of permutations of N objects taken n at a time is PNn = n! / (N - n)! for n = 0, 1, 2, . . . , N.

Union

In mathematics, specifically in set theory, the union of a collection of sets is the set of all distinct elements that are in any of those sets.

Intersection

A mathematical term describing the point or set of points where two lines, curves, shapes, or surfaces meet.

Event

A collection of sample points.