When comparing the measure of goods and services of one country to that of another, economists generally compare

Any item that serves as a medium of exchange is called

A) gold. B) capital. C) silver. D) money.

Refer to Excise Subsidy. The amount of the subsidy paid to firms is given by

The following questions refer to the accompanying diagram which shows the effects of an excise subsidy given to firms. The initial price and quantity are P0 and Q0, respectively. After the subsidy is granted, the equilibrium quantity is Q1, firms receive the price Ps, and consumers pay the price Pd.

a. area A + B + E + H.
b. area B + C + D + E + F + G.
c. area D.
d. area F + G + I + J.