The tendency of the prices of identical baskets of goods across countries to converge:
a. Is stronger to the extent the countries compared have substantial tariffs on imported goods
b. Is weaker, the higher the cost of transporting the goods between countries.
c. Is stronger for goods and services not traded internationally.
d. Would tend to become weaker when countries eliminated quotas on imports of the goods in the baskets.
b
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The t-test is used to test hypotheses concerning the individual regression coefficients
Indicate whether the statement is true or false
National income accounting reveals that the value of total production in an economy
A) is always greater than the value of total income in the economy. B) is always less than the value of total income in the economy. C) is always equal to the value of total income in the economy. D) may be greater than, less than , or equal to the value of total income in the economy.