The above figure shows the market for rice in Japan. SDomestic represents the domestic supply curve, and Sworld represents the world supply curve. If imported rice is banned, the change in domestic producer surplus equals
A) f.
B) f + g.
C) f + g + h.
D) h.
B
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Suppose that along the aggregate demand curve, real GDP equals $14.2 trillion when the GDP deflator is 90. If the GDP deflator were 95, real GDP along the aggregate demand curve would equal
A) more than $14.2 trillion but less than $14.8 trillion. B) less than $14.2 trillion. C) $14.2 trillion. D) more than $14.8 trillion.
Domestic savings:
A. is equal to domestic income minus consumption spending. B. comes from private households spending less than they earn. C. occurs when government revenues exceed noncapital expenditures. D. All of these are true.
Which of the following would contribute to GDP?
a. An American company buys stock in another American company. b. An American company produces goods in Canada. c. A Canadian company buys stock in an American company. d. A Canadian company produces goods in the United States.
Contrast the good-citizen model with the economic model to explain the reason why people engage in charitable behavior.
What will be an ideal response?