4. Assume potential GDP is $20. The economy in #3 is: ( Recessinary Inflationary Ideal/desirable ) 5. If aggregate demand decreases by $5 at every price level, the economy will have a new aggregate demand curve. Add the new aggregate demand curve to your graph (drawn in #1) 6. With the new AD curve, what is the equilibrium price level and the equilibrium GDP?

4. Assume potential GDP is $20. The economy in #3 is: ( Recessinary Inflationary Ideal/desirable ) 5. If aggregate demand decreases by $5 at every price level, the economy will have a new aggregate demand curve. Add the new aggregate demand curve to your graph (drawn in #1) 6. With the new AD curve, what is the equilibrium price level and the equilibrium GDP?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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