80 1600 400 800 90 1400 600 800 100 1200 800 800 110 1000 1000 800 120 800 1200 800 130 600 1400 800 140 400 1600 800 the AD, SAS, and LAS curves, show the equilibrium level of real GDP and price level. s the value of Potential GDP? s the value of short run macroeconomics equilibrium GDP ? s the value of short run macroeconomics equilibrium price level? country producing above, below or at full employment? is the name of the gap if any? 5 the size of the gap? e positive or negative cyclical unemployment ? u have to Increase or decrease GDP? d the country implement expansionary or contractionary policy?
80 1600 400 800 90 1400 600 800 100 1200 800 800 110 1000 1000 800 120 800 1200 800 130 600 1400 800 140 400 1600 800 the AD, SAS, and LAS curves, show the equilibrium level of real GDP and price level. s the value of Potential GDP? s the value of short run macroeconomics equilibrium GDP ? s the value of short run macroeconomics equilibrium price level? country producing above, below or at full employment? is the name of the gap if any? 5 the size of the gap? e positive or negative cyclical unemployment ? u have to Increase or decrease GDP? d the country implement expansionary or contractionary policy?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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