Economists Conclude That the Effect on Our World's Standard of Living

question 131

Multiple Choice

Economists conclude that the effect on our world's standard of living as a result of labor and capital migration has been:

• A) negative overall.
• B) positive overall as resources move to their highest-valued use.
• C) positive in some respects but very harmful in the long run to workers.
• D) so small worldwide that the effect is not worth measuring.

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Definitions:

Margin of Error

The margin of error represents the maximum expected difference between the true population parameter and a sample estimate of that parameter.

Population Mean

The average value of a characteristic of the entire population.

Population Standard Deviation

The square root of the variance in a population, describing how data points in the entire population deviate from the population mean.

Sample Size

The number of observations or items included in a sample, which represents a portion of the larger population.