Answer from cs61c-ev (Roland Carlos 16583196) for Question 1
The TLB stores mostly the translations from virtual to physical addresses. However, the TLB stores only recently used translations, so it is high in temporal locality. This lends itself to lower miss rates, since translations referenced in the TLB are likely to referenced again in the near future. So even with the smaller size, the temporal locality is what keeps its miss rate low.