True or False? 6) The price of apples in a given week is an example of aneconomic variable. 7) In Co

True or False? 6) The price of apples in a given week is an example of aneconomic variable. 7) In Country A a worker can produce either 6 bushels of corn or18 pounds of tomatoes in one day. In Country B a worker can produceeither 4 bushels of corn or 16 pounds of tomatoes in one day.Country A has an absolute advantage in corn production. 8) In Country A a worker can produce either 6 bushels of corn or18 pounds of tomatoes in one day. In Country B a worker can produceeither 4 bushels of corn or 16 pounds of tomatoes in one day.Country B has a comparative advantage in corn production. 9) A production possibilities frontier identifies therelationship between the quantity of a good produced and the costof producing that good. 10) In the circular flow model, people earn income and spend iton goods and services. The amount spent on the goods and servicesbecomes profit for the firm. . . .

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