Refer to the Information Provided in Figure 18

question 138

Multiple Choice

Refer to the information provided in Figure 18.1 below to answer the questions that follow. Figure 18.1
-Refer to Figure 18.1. Which of the following statements is true?

• A) The United States has both an absolute advantage and a comparative advantage in the production of soybeans and alfalfa.
• B) The United States has an absolute advantage in the production of soybeans and alfalfa, but a comparative advantage only in the production of soybeans.
• C) The United States has an absolute advantage in the production of soybeans and alfalfa, but a comparative advantage only in the production of alfalfa.
• D) The United States has a comparative advantage in the production of both soybeans and alfalfa, but an absolute advantage only in the production of soybeans.

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Definitions:

ANOVA Table

A table that displays the output of an Analysis of Variance, showing statistics that allow the comparison of more than two groups.

Critical Value

A point on the scale of a test statistic beyond which we reject the null hypothesis, it's a boundary in hypothesis testing that defines the threshold for significance.

Average Time

The mean value of a set of time measurements.

Medications

Substances used for medical treatment, especially for curing, alleviating, or preventing disease.