In 2004, the economy of Minitown had an aggregate demand and aggregate supply according to the following schedule: PRice level Aggregate Demand Short-run Aggregate supply Long run aggregate supply 100 $1625 $1205 $1370 110 $1550 $1270 $1370 120 $1475 $1335 $1370 130 $1400 $1400 $1370 140 $1325 $1465 $1370 150 $1250 $1530 $1370 160 $1175 $1595 $1370 What was Minitown’s short-run equilibrium output in 2004?
In 2004, the economy of Minitown had an aggregate demand and aggregate supply according to the following schedule: PRice level Aggregate Demand Short-run Aggregate supply Long run aggregate supply 100 $1625 $1205 $1370 110 $1550 $1270 $1370 120 $1475 $1335 $1370 130 $1400 $1400 $1370 140 $1325 $1465 $1370 150 $1250 $1530 $1370 160 $1175 $1595 $1370 What was Minitown’s short-run equilibrium output in 2004?
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter18: Debates In Macroeconomics Over The Role And Effects Of Government
Section: Chapter Questions
Problem 2WNG
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In 2004, the economy of Minitown had an aggregate demand and
| PRice level | Aggregate Demand | Short-run Aggregate supply | Long run aggregate supply |
| 100 | $1625 | $1205 | $1370 |
| 110 | $1550 | $1270 | $1370 |
| 120 | $1475 | $1335 | $1370 |
| 130 | $1400 | $1400 | $1370 |
| 140 | $1325 | $1465 | $1370 |
| 150 | $1250 | $1530 | $1370 |
| 160 | $1175 | $1595 | $1370 |
What was Minitown’s short-run equilibrium output in 2004?
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