All question about True or False. 1.A production possibilities frontier allows us to identify theopp

All question about True or False. 1.A production possibilities frontier allows us to identify theopportunity cost of producing a particular good in an economy (T/F) 2.In the circular flow model, people earn income and spend it ongoods and services. The amount spent on the goods and servicesbecomes profit for the firm. (T/F) 3.A production possibilities frontier identifies therelationship between the quantity of a good produced and the costof producing that good. (T/F) 4.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. (T/F) 5.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.(T/F) . . .

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