(Table: Matcha Tea and Coho Salmon Production Possibilities II) Use Table: Matcha Tea and Coho Salmon Production Possibilities II. This table shows the maximum amounts of matcha tea and Coho salmon, both measured in pounds, that Colombia and Washington can produce if each produces just one good. Colombia has a comparative advantage in the production of: Table: Matcha Tea and Coho Salmon Matcha Tea Coho Salmon Colombia 40 20 Washington 10 10 O a) neither matcha tea nor Coho salmon Ob) both matcha tea and Coho salmon. O c) matcha tea only. O d) Coho salmon only.Question 2 [5 points] v/ Saved all (Table: Comparative Advantage I) Use Table: Comparative Advantage I. Norway has an absolute advantage in the production of: Table: Comparative Advantage I Japan and Norwayr produce only two goods= tuna and computers, and this table shows the maximum amount that each nation can produce of the two goods. Japan Norway Tuna 100:000 boxes 50,000 boxes Computers 10,000 10,000 0 a] both computers and tuna. O b] computers only. G) C} tuna only. 0 Cl} neither computers nor tuna. Question 3 (5 points) Saved 1) Listen (Figure: Apple Cider and Soybeans) Use Figure: Apple Cider and Soybeans. If this economy is producing at point A and wants to produce at point B, it must: Apple cider (thousands of bottles) 15 12 A 6 9 12 15 Soybeans (tons) ( a) decrease production. Ob) increase its resources. O c) trade with another country. . d) use its existing resources more efficiently, as opportunity costs are zero.Question 4 {5 points] J Saved all An inward shift of the U.S. economy's production possilzrilit}r frontier could represent: 0 3} workers moving om Illinois to New York. 0 b] US. economic growth. 0 C} a change in the amount of labor and capital used in production. 6) d] 115. workers moving to Mexico- Question 5 (5 points) Saved () Listen (Table: Production Possibilities Schedule I) Use Table: Production Possibilities Schedule I. If the economy produces 10 trains per period, it also can produce, at most, planes per period. Table: Production Possibilities Schedule I Alternatives A B C D E Planes Produced 0 1 2 3 Trains Produced 30 28 24 18 10 O a) 2 ( b) 3 O c 5 O d) 4Question 6 {5 points] all An economic model: 0 3] allows nothing to change in the economic situation that is being described. 0 b] is useful in explaining past: present: and future economic outcomes. 0 Cl often leads to faulty conclusions because of the "all things equal" assumption 0 Cl} is a simplied version of reality us ed to understand realworld economic conditions. (Figure: Seasonally Adjusted Unemployment Rate) Use Figure: Seasonally Adjusted Unemployment Rate. The distance between each labeled point on the horizontal axis is one year, and the distance between each labeled point on the vertical axis is one percentage point of unemployment. Unemployment was approximately percent in 2013 and percent in 2019. Seasonally Adjusted Unemployment Rate, 2010-2020 Unemployment rate (%) 10% 7 6 5 4 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Year a) 5.05; 4.10 O b) 4.10; 5.05 ( c) 5.25; 3.7 d) 3.7; 5.25Question 8 (5 points) Saved Listen All points inside the production possibility frontier represent: O a) infeasible production points that can, however, be attained through economic growth. (b) efficient production points that economies strive to reach. inefficient production points that are attainable without added opportunity costs. ( d) production points that the economy will eventually reach through economic growth.Question 9 {5 points] v' Saved all An economy.r is said to have a comparative advantage if it: 0 a] has the highest opportunity cost of producing a particular good compared with other economies. 6) III} has the lowest opportunityr cost of producing a particular good compared with other economies. O C} can produce fewer of all goods than another economy. 0 d} can produce more of all goods than another economy,r with the same amount of resources. Question 10 (5 points) Saved Listen A key feature of the circular-flow diagram is that the money that flows into each sector or market is greater than the money that flows out. O a ) False ( b) True