2. (2 pts) Many college freshmen describe themselves as pre-med, but a very smal

Question

2. (2 pts) Many college freshmen describe themselves as pre-med, but a very small percentage of tre as these freshmen will ever attend medical school. After the first course in biology or chemistry, ds possib many decide to major in something other than the natural sciences. Which of the 12 principles is that at work here? Explain. 3. (5 pts) Use the following to answer question 3: Table: Wheat and Aluminunm Aluminum Production 100 100 Aluminum Production Production 50 Germany 100 Look at the table Wheat and Aluminum. The table shows the maximum possible production wheat and aluminum for both the United States and Germany. Are gains from trade possible etween these nations? Explain.

Explanation / Answer

Gain from trade is possible as Germany produces 50 wheatys &100 aluminum &USA 100 of both.    So here USA expertises in production of wheat and Germany can produce aluminun in half of the time. So, they should carry on expertising aliminum and importing wheat and vice versa for USA.

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