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The accompanying hypothetical production possibilities tables are for New Zealand and Spain. Each country can produce apples and plums. New Zealand's Production Possibilities Table Millions

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The accompanying hypothetical production possibilities tables are for New Zealand and Spain. Each country can produce apples and plums. New Zealand's Production Possibilities Table Millions of Bushels Production Alternatives Product A B C D Apples 0 20 40 60 Plums 15 10 5 Spain's Production Possibilities Table Millions of Bushels) Production Alternatives Product R S U Apples 0 20 40 60 Plums 60 20 a. Plot the production possibilities data for each of the two countries separately. Show the trading possibilities lines for each nation if the actual terms of trade are 1 plum for 2 apples. Instructions: (1) Use the tools provided, 'PPC NZ' and 'PPC SP,' (plot 4 points each) to draw the PPC curves. (2) Use the tool provided, 'ToT,' in each diagram (plot 4 points each) to draw the trading possibilities lines for each nation. To earn full credit, you must correctly plot all points for each line. New Zealand Spain O 80 Tools 140 Tools 120 60 PPC NZ TOT PPC SP TOT 100 (40, 60) 80 Apples (millions of bushels) 40 Apples (millons of bushels) 60 40 20 20 O O 5 10 15 20 25 30 40 10 30 40 50 60 70 80 Plums (millions of bushels) Plums (millions of bushels)

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