a. What does “term of trade” mean?  b. Using the information provided in the table below, answer the following questions.   COUNTRY A COUNTRY B TABLES 4 7 DESK 1 2 b) Answer the following questions: i. Which country has the Absolute advantage in tables?  ii. Which country has the Absolute advantage in desk?  iii. Which country has the Comparative Advantage in tables? iv. Which country has the Comparative advantage in desk?  v. If each country has 10 workers who can produce either tables or chairs, draw the PPF of tables and desk for Country A and do the same for Country B.

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