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Question 14 Assume the economy of Scoob can produce 5 tons of rice and 15 tons of wheat while the economy of Widgland can produce 10 tons of rice and 20 tons of wheat. Which of the following is FALSE? O The opportunity cost of 1 ton of wheat in Scoob is 0.33 O The opportunity cost of I ton of wheat in Widgland is 0.5 O The opportunity cost of 1 ton of rice is Scoob is 3 The opportunity cost of 1 ton of rice in Widgland is 0.5 Question 15 Which of the following changes will NOT shift the US production possibility curve to the right? An increase in the US labor force O A global health pandemic O Development of a new fertilizer for corn O Discovery of new oil deposits in Texas Question 16 Assume that in 2019 the nominal GDP in Scoo en in 2020? (give your answers rounded to I decimal place) O 10.0%% 20.0% O 16.7% 83.3%% Question 17 The economy of Scoob has just experien ess. The time it takes to pass the bill is an example of: O A recognition lag O An adminstrative lag O An operational lag O Crowding out D Question 18 Congress finances a budgetary deficit by O Raising taxes O Printing money O Lowering taxes Selling bonds