Describe three types of short-run macroeconomic equilibrium. A macroeconomic equilibrium in which real GDP equals potential GDP is And one in which real GDP exceeds potential GDP is equilibrium A. a full-employment; an above full-employment OB. an above full-employment, a full-employment OC. an above full-employment, an inflationary OD. a full-employment, a recessionary equilibrium The graph shows an economy's long-run aggregate supply curve. The economy is at a below full-employment equilibrium. Draw an aggregate demand curve and a short-run aggregate supply curve. Label them. Draw a point at the short-run equilibrium. 150- 140 130- 120+ 110 100- 90+ Price level (GDP deflator, 2007-100) LAS 1.5 1.8 1.6 1.7 Real GDP (trillions of 2007 dollars) >>> Draw only the objects specified in the question. Q Q G 1.9 20 21
Describe three types of short-run macroeconomic equilibrium. A macroeconomic equilibrium in which real GDP equals potential GDP is And one in which real GDP exceeds potential GDP is equilibrium A. a full-employment; an above full-employment OB. an above full-employment, a full-employment OC. an above full-employment, an inflationary OD. a full-employment, a recessionary equilibrium The graph shows an economy's long-run aggregate supply curve. The economy is at a below full-employment equilibrium. Draw an aggregate demand curve and a short-run aggregate supply curve. Label them. Draw a point at the short-run equilibrium. 150- 140 130- 120+ 110 100- 90+ Price level (GDP deflator, 2007-100) LAS 1.5 1.8 1.6 1.7 Real GDP (trillions of 2007 dollars) >>> Draw only the objects specified in the question. Q Q G 1.9 20 21
Chapter11: Managing Aggregate Demand: Fiscal Policy
Section: Chapter Questions
Problem 2TY
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