Use the following information to solve questions 2 and 9. Assume there are only two countries, the US and Mexico. Further, assume that these two countries are only producing two types of goods, apples and oranges. Each country has 10 hours available that it can use for production. For the US, every hour spent producing apples would yield 2 apples and every hour spent producing oranges would yield 1 orange. For Mexico, every hour spent producing apples would yield 1 apple and every hour spent producing oranges would yield 0.25 oranges. 6. Who has a comparative advantage in the production of apples? a. The US b. Mexico c. Neither country d. Both countries e. Cannot be determined from the information given 7. Who has a comparative advantage in the production of oranges? a. The US b. Mexico c. Neither country d. Both countries e. Cannot be determined from the information given Who has an absolute advantage in the production of apples? a. The US b. Mexico c. Neither country d. Both countries e. Cannot be determined from the information given 9. How can the two countries benefit from trade? a. The US should specialize in producing apples and Mexico should specialize in producing oranges EEEEEEE b. Mexico should specialize in producing apples and the US should specialize in producing oranges c. Both countries should specialize in producing apples d. Both countries should specialize in producing oranges e. The countries in this case cannot benefit from trade 10. What does it mean if a country has a trade deficit with the rest of the world? a. The value of the countries imports from the rest of the world exceed the value of its exports to the rest of the world b. The value of the countries exports to the rest of the world exceed the value of its imports to the rest of the world C. The country is borrowing money from the rest of the world to produce its products d. The country is lending money to the rest of the world to help other countries produce e. None of the answers are correct