A country opens up to trade and becomes an importer of a sugar. In the sugar market, consumer surplus will ________, producer surplus will ________, and total surplus will ________

In the above figure, what is the short-run equilibrium real GDP and the short-run equilibrium price level?

What will be an ideal response?

According to critics of new Keynesian economics, it is doubtful that

a. menu costs are very important in the real world. b. efficiency wage considerations play an important role in the real world. c. bargaining models are of significance in the real world. d. All of the above e. None of the above