hi this question is for Macroeconomics but on bartleby it show economics Use the figure below to answer the following questions.Price level (GDP deflator, 2002 =100)LAS130SAS120110100AD190ADO12.012.513.013.514.0Real GDP (trillions of 2002 dollars)Figure 26.3.56) Refer to Figure 26.3.5 above. What type of gap is shown by point B and how large this the gap in terms of Real GDP? V7) If in Figure 26.3.5 the economy does not return to full-employment equilibrium at point A, what will happen to theposition of SAS and what type of inflation will result?8) As a result of COVID-19, the Government of Canada has been actively using a discretionary fiscal stimulus policy. Using theAggregate Supply – Aggregate Demand model, illustrate the intended impact of this policy on Aggregate Demand. Has the fiscal stimuluspolicy been effective? Why or why not? When the discretionary fiscal stimulus policy has ended, what actions with respect to the budget,will the government have to consider to address the debt level resulting from the discretionary fiscal stimulus policy?

Answered: 6) Refer to Figure 26.3.5 above. What…

6) Refer to Figure 26.3.5 above. What type of gap is shown by point B and how large this the gap in terms of Real GDP? V

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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hi this question is for Macroeconomics but on bartleby it show economics

Branch of economics that analyzes the behavior and performance of an economy as a whole. It focuses on the study of aggregates and evaluates changes related to unemployment, gross domestic product, inflation, monetary and fiscal policies of the government.

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