Using AS and AD analysis, explain what effects, if any, the following changes have on each nation's GDP Price Index and real GDP. Explain your answer, 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. Japan: The yen appreciates relative to the British pound.
d. Greece: The Greek government's budget deficit is reduced drastically in order to meet the bailout conditions of the European Monetary Union and International Monetary Fund.
e. Japan: Japan's saving rate falls due to the nation's aging population.
f. United States: Turmoil between Iraq and Iran causes a sharp increase in the price of oil.
g. United States: The U.S. housing market crashes, causing wealth to fall for a large cross section of the United States.
h. Mexico: The government increases its spending and cuts taxes to stimulate the economy.
i. 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.