The Main Advantage of Trade Between Two Countries Is That

question 39

Multiple Choice

The main advantage of trade between two countries is that

• A) trade makes both countries more self-sufficient.
• B) employment in both countries will increase.
• C) both countries have consumption choices beyond their current resource and production constraints.
• D) trade will lead to a more equitable distribution of income in both countries.

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Definitions:

Type II Error

A Type II error occurs when a statistical test fails to reject a false null hypothesis, indicating a false negative result.

Sample Size

The number of observations or data points collected in a statistical sample from a population.

Margin of Error

The amount of error that can be tolerated in statistical estimates, indicating the extent to which the sample results can differ from the true population values.

Test Hypotheses

The process of making an assumption about a population parameter and then using sample data to test whether the assumption holds true.