A very small country's gross domestic product is $12 million.
a) If government expenditures amount to $7.5 million and gross private domestic investment is $5.5 million, what would be the amount of net exports of goods and services?

The amount of net exports of goods and services is -$1 million.

Explanation:

The gross domestic product (GDP) is equal to the total value of the products and services that are produced in a country in a specific period of time. In this case, we will have that GDP would be:

GDP= I+G+NX

I= investment

G= government expenditure

NX= net exports

Then, we replace the formula and isolate NX:

$12=$5.5+$7.5+NX

NX= $12-$5.5-$7.5

NX= -$1

answer; ///i believe the correct answer is(e) complementary to each other;

answer: in the short-run firms will respond by raising the price of turkey.

explanation: initially the long-run equilibrium is at a price of $5 per pound of turkey and a quantity of 50 million pounds per year. now, when webmd claims that a protein found in turkey will increase your expected lifespan by 4 years. the consumers demand for turkey will increase at every price shifting the demand curve to the right from d1 to d2. while, there will be no change in the supply curve in the short-run as it is not possible for producers to adjust supply so quickly. as a result the new equilibrium will occur at a higher price and a higher quantity of turkey.

thus, in the short run firms will respond by increasing the price of turkey, selling more quantity at a higher price and earning economic profits.