Please answer the following questions:

Question 22 (1 point) (Figure: Imports and Exports) During the 2008 to 2009 financial crisis, imports as a share of GDP fell in the United States. Which of the following could explain this phenomenon? Share of GDP 20% Imports (15%) 9 10% Exports (12%) 12 0% 1930 1960 1990 2017 15 Data from: Bureau of Economic Analysis. The percentage decrease in imports was less than the percentage decrease in GDP. 18 O The percentage decrease in imports was greater than the percentage decrease in GDP. 21 The percentage increase in imports was greater than the percentage decrease in GDP. The percentage increase in imports was less than the percentage decrease in GDP. 24 Question 23 (1 point) (Figure: Market for Engines) If there is no international trade in this market, the value of the consumer surplus is:Question 23 (1 point) (Figure: Market for Engines) If there is no international trade in this market, the value of the consumer surplus is: Price 2,000 Domestic 1,000 -. supply - Domestic demand 500 1,000 Quantity of engines $360,000. $1,080,000. $540,000. $720,000.Question 19 (1 point) (Figure: Market for TVs 2) The world price of TVs is $500, and the government imposes a $100 tariff. 3 N According to the figure, domestic consumers purchase units from domestic producers and from foreign producers after the tariff. units Price UT 6 1,000 -Domestic supply 8 9 500 11 12 Domestic 14 15 demand .-. 50 100 Quantity of TVs 17 18 (in thousands) O 60,000; 40,000 20 21 40,000; 0 60,000; 0 23 24 40,000; 40,000 Question 20 (1 point)Question 24 (1 point) Price is functioning as an incentive when a price change causes people to have higher incomes. causes buyers and sellers to change their behavior. O communicates that the market is changing. provides information about the state of the market. Question 25 (1 point) What concept would a factory manager make use of to assign tasks if he wants to maximize output and has a fixed amount of resources? Comparative advantage Trade incentives Opportunity revenues Absolute advantageQuestion 21 (1 point) 3 (Figure: Market for Engines) According to the figure, if there is international trade in this market, and the world price of an engine is $1,000, the value of the domestic producer surplus is: Price 6 2,000 Domestic 1,000 supply - 12 ....... Domestic. demand 15 500 1,000 Quantity of engines 18 $180,000. 21 $360,000. O 24 $1,000,000. Question 22 (1 point) (Figure: Imports and Exports) During the 2008 to 2009 financial crisis, imports as a share of GDP fell in theQuestion 30 (1 point) (Figure: Market for Pants) According to the figure, if there is no international trade in this market, the value of the consumer surplus is: Price 100 Domestic supply 50 Domestic demand 50 100 Quantity of pants (in thousands) $2,500,000. $1,250,000. $1,600,000. $800,000.Question 27 (1 point) (Table: Four persons) The table lists the minutes that it will take four people to wash a car and to sort and fold a load of laundry. Use the data to answer the question. Table: Four persons Minutes it takes to: Wash a car Sort and fold a load of laundry Asad 150 50 Junko 120 50 Jason 90 45 Jen 80 45 Who has a comparative advantage in washing a car? O Asad Junko O Jason JenQuestion 26 (1 point) When resources are organized according to the principle of comparative advantage, producers become O less specialized and can end up with less of everything. more specialized so they can trade and end up with more of everything. more specialized but can end up with less of everything. less specialized so they can trade and end up with more of everything.Question 20 (1 point) Artem manages a coat factory where the main tasks are cutting, sewing, and pressing. Workers vary in their abilities to do each task. What basis should Artem use to assign the workers? Each worker should do all tasks to see who produces a coat most quickly. O Each worker should do two of the three tasks, omitting the one that takes the longest to do. O Each worker should do the task that he or she can do most quickly, compared to other workers. Each worker should do the task that he or she can do at the lowest opportunity cost, compared to other workers