Table 7-6 Output Per Hour Production and Production

question 28

Multiple Choice

Table 7-6
Output per hour Production and Production
of work Consumption without Trade with Trade
Estonia and Morocco can produce both swords and belts.Each country has a total of 40 available labor hours for the production of swords and belts.Table 7-6 shows the output per hour of work,the production and consumption quantities without trade,and the production numbers with trade.
-Refer to Table 7-6.If the actual terms of trade are 1 belt for 1.5 swords and 50 belts are traded,how many belts will Estonia gain compared to the "without trade" numbers?

• A)0
• B)10
• C)40
• D)50

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Definitions:

Margin of Error

The amount of error allowed in a survey or experiment results, expressing the confidence in the reliability of the data.

Confidence Level

The degree of certainty, often expressed as a percentage, that a parameter lies within a specified range.

Sample Size

The number of observations or data points collected in a statistical study, which influences the precision and reliability of the study's outcome.

Confidence Intervals

An array of values, based on statistics from a sample, which is assumed to enclose the value of an unidentified population feature.