Economics (MindTap Course List)
13th Edition
ISBN: 9781337617383
Author: Roger A. Arnold
Publisher: Cengage Learning
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Chapter 32, Problem 14QP
To determine
Determine an observation, identify a question based on observation, develop a theory to answer the question, and identify two predictions based on the theory.
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Question 5
Explain the difference between the terms 'hypotheses" and 'theories'.
1) Why does the gravity model work?
A) Large economices became large because they were engaged in international trade.
B) Large economies have relatively large incomes, and hence spend more on
government promotion of trade and investment.
C) Large economies have relatively larger areas, which raises the probability that a
productive activity will take place within the borders of that country.
D) Large economies tend to have large incomes and tend to spend more on imports.
E) Large economies tend to avoid trading with small economies.
2) Which of the following does NOT explain the extent of trade between Ireland and
the U.S.?
A) historical ties
B) cultural Linguistic ties
C) Gravity Model
D) multinational corporations
E) large numbers of Irish-Americans
3) In the current Post-Industrial economy, international trade in services (including
banking and financial services)
A) dominates world trade.
B) does not exist.
C) is an increasingly important component of global trade.
D) is…
Why would I use a one-tailed (directional) hypothesis? What are the limitations of using a one-tailed hypothesis?
Chapter 32 Solutions
Economics (MindTap Course List)
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