Refer to Figure 9.3. If the government establishes a price ceiling of $1.00, total consumer and producer surplus will be

Saving

A) slows growth because it decreases consumption. B) finances investment which brings capital accumulation. C) has no impact on economic growth. D) is very low in most East Asian nations. E) is important for a country to gain the benefits of international trade.

A year-long drought that destroys most wheat crops for the season would shift the:

A. short-run aggregate supply curve only. B. aggregate demand curve only. C. aggregate demand curve, and the short-run aggregate supply curve would shift in response. D. short-run aggregate supply curve and the long-run aggregate supply curve.