Identify the macro equilibrium. Instructions: Use the tool provided 'QE' to identify the current macro equilibrium on the graph. The current macro equilibrium is when real GDP is $ __ billion. b. The real GDP gap is $__ billion. c. The AD excess is $__ billion. d. Identify the new equilibrium that would occur with appropriate fiscal policy. Instructions: Use the tool provided 'QF' to identify the new equilibrium that would occur with appropriate fiscal policy.
Identify the macro equilibrium. Instructions: Use the tool provided 'QE' to identify the current macro equilibrium on the graph. The current macro equilibrium is when real GDP is $ __ billion. b. The real GDP gap is $__ billion. c. The AD excess is $__ billion. d. Identify the new equilibrium that would occur with appropriate fiscal policy. Instructions: Use the tool provided 'QF' to identify the new equilibrium that would occur with appropriate fiscal policy.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Instructions: Enter your responses as a whole number.
a. Identify the macro equilibrium.
Instructions: Use the tool provided 'QE' to identify the current macro equilibrium on the graph.
The current macro equilibrium is when real
b. The real GDP gap is $__ billion.
c. The AD excess is $__ billion.
d. Identify the new equilibrium that would occur with appropriate fiscal policy.
Instructions: Use the tool provided 'QF' to identify the new equilibrium that would occur with appropriate fiscal policy.
This full-employment GDP is $ __ billion.
![Use the accompanying graph to answer the following questions:
Price Level
10
9
8
7
6
5
4
3
2
1
сл
0
2 4 6 8
AS
AD
10 12 14 16 18 20
QF
Real GDP (in billions of dollars per year)
Tools
-i
QE
QF
Ⓡ](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F416ff6d2-799f-43c9-9dc0-e44c7b16bb4d%2F4ddbd66c-f82f-45ad-91e9-c5e6aec294bd%2Fvxvkv7m_processed.png&w=3840&q=75)
Transcribed Image Text:Use the accompanying graph to answer the following questions:
Price Level
10
9
8
7
6
5
4
3
2
1
сл
0
2 4 6 8
AS
AD
10 12 14 16 18 20
QF
Real GDP (in billions of dollars per year)
Tools
-i
QE
QF
Ⓡ
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