Question 4 (5 points) () Listen In a single year, Germany can raise 100 tons of wheat or produce 1,000 boxes of daisies. In the same growing season, France can raise 50 tons of wheat or produce 750 boxes of daisies. Trade will take place between these two countries if 1 ton of wheat costs boxes of daisies. a) 20 Ob) 8 O c) 12 O d) 5Question 6 (5 points) mu When a country exchanges goods with another country, in the short run: 0 a) consumers of the imported good may be worse o'. O b) producers in the exporting industry may be better o'. O C) consumers of the exported good may be better o'. Q d) producers in the importing industry are better off. Question 12 (5 points) I: .Tim's Big and Tall, a men's tie store, sold an average of 30 ties per day at $5 per tie but sold 50 of the same ties per day at $3 per tie. The price elasticity of demand, obtained using the midpoint method, is: O a) greater than 1 but less than 3. O b) greater than zero but less than 1. O C) equal to l. 0 d) greaterthan3. Question 14 (5 points) Listen A good is likely to have an elastic demand curve if the: a) good is a necessity. (b) good accounts for a small share of consumer income. () consumer has significant time to respond to price changes. O d) good has few available substitutes