The Correlation Coefficient Can Only Range Between 0 and 1

question 85

True/False

The correlation coefficient can only range between 0 and 1.

---

Definitions:

Trade Barriers

Measures that governments or public authorities introduce to make imported goods or services less competitive than locally produced goods and services.

Trade Openness

A measure of the extent to which a country allows free trade with other countries, including importing and exporting goods without tariff or non-tariff barriers.

Per Capita GDP

The average economic output per person, calculated by dividing the GDP of a country by its population.

Income Levels

The range of earnings of individuals or groups, reflecting economic status, which can influence buying power and standard of living.