Using aggregate supply and aggregate demand analysis, explain what effects, if any, the following changes have on each nation’s GDP Price Index and real GDP. Explain your answers, and draw the appropriate supply and demand graphs (properly labeled).

a. United States: A cold snap hits the southern part of the United States and destroys 25% of the crops.

b. China: The People’s Bank of China, which is China’s central bank, tightens monetary policy.

c. Canada: The government raises income taxes.

d. Japan: The yen appreciates relative to the U.S. dollar.

e. Greece: The Greek government’s budget deficit is reduced drastically by increasing taxes.

f. Japan: Japan’s saving rate falls due to the nation’s aging population.

g. China: Turmoil between Iraq and Iran causes a sharp increase in the price of oil.

h. United States: The U.S. housing market crashes, causing wealth to fall for a large cross section of the United States.

i. El Salvador: Higher uncertainty reduces investment spending.

j. Germany: New technological discoveries increase labor productivity.

k. Mexico: The government cuts spending for final goods and services.

l. Mexico: The government increases its spending and cuts taxes.

m. Vietnam: A rise in expected inflation causes workers to demand higher wages.

n. China: China’s government spending on goods and services increases significantly and state banks make loans to inefficient state enterprises rather than to more qualified borrowers.