Use the following to answer questions : 
-(Table: Production Possibilities in the United States and Colombia) Look at the table Production Possibilities in the United States and Colombia. Suppose that in autarky, Colombia produces 10 tons of coffee and 3 computers. The United States produces 8 tons of coffee and 20 computers. Can specialization and trade increase global production? Justify your answer.
Definitions:
Catch The Flu
Refers to becoming infected with influenza, a highly contagious respiratory illness caused by influenza viruses.
Economic Crisis
A severe and sudden disruption in financial markets that leads to a loss of wealth and trust, often resulting in recession, inflation, or deflation.
Government Regulations
The laws and rules established by governments to control or guide specific economic activities or markets.
Lending Standards
The set of criteria used by banks and financial institutions to determine the creditworthiness and eligibility of prospective borrowers.
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