Refer to the figure above. What is the producer surplus before Lithasia opens up to free trade?

A bank's assets consist of $1,000,000 in total reserves, $2,100,000 in loans, and a building worth $1,200,000 . Its liabilities and capital consist of $3,000,000 in demand deposits and $1,300,000 in capital. If the bank is required to keep reserves equal to one-third of deposits, what is the level of the bank's excess reserves? How much could it loan out as a result?

a. zero; zero b. $300,000; $300,000 c. $300,000; $900,000 d. $700,000; $2,100,000

Differences in climate among nations

a. could lead to economic efficiency b. reduce opportunities for gains from international trade c. lower the terms of trade in favor of warm-climate nations d. may create opportunities for international trade e. raise the terms of trade in favor of warm-climate nations