For a closed economy, GDP is $18 trillion, consumption is $13 trillion, taxes are $2 trillion and the government runs a deficit of $1 trillion. What are private saving and national saving?

If a U.S. citizen buys a dress made in Nepal by a Nepalese firm, then

**The table below shows the tons of rice and corn that can be produced in Country X and Country Y in one year, using the same amount of productive resources. ​                            Rice     Corn       Country X       20        10       Country Y       16          4 ​ According to the theory of comparative advantage, what should firms in Country X do?

Exhibit 4-8 Refer to Exhibit 4-8. A shift from demand curve D to demand curve D’ would be caused by a(n)

Figure 9-6The figure illustrates the market for roses in a country. Refer to Figure 9-6. The imposition of a tariff on roses

Buyers are able to buy all they want to buy and sellers are able to sell all they want to sell at

Table 23-5The country of Caspir produces only cereal and milk. Quantities and prices of these goods for the last several years are shown below. The base year is 2015. Prices and Quantities Year Price of Cereal Quantity of Cereal Price of Milk Quantity ofMilk 2015 $4.00 100 $1.50 180 2016 $4.00 120 $2.00 200 2017 $5.00 150 $2.50 200 2018 $6.00 180 $3.50 240 Refer to Table 23-5. In 2018, this country’s

If in some year nominal GDP was $20 billion and the GDP deflator was 50, what was real GDP?

**Suppose tests on laboratory animals show that, because of its high cholesterol content, peanut butter is a major cause of artery disease.  At the same time, suppose that unusually good weather produces a bumper crop (larger crop than usual) of peanuts.  Which of the following is likely to occur in the market for peanut butter?

If the price of a haircut (a normal good) increases, other things constant, the