Initialy, the chot run aggregate suply curve is SASO and the gte dand oseLAS SAS,115SAS110105100950.8Reol GOP rilions of 2005 dollan1.01.2Using the above graph, amwer the following questions1. Some events change aggregate demand from ADO to AD1 dentily two events that cot t othe chdemand. What is the equlitrium ater aggregate demand changed it poental GPn51n eonytmakroeconomic equilitrium?2. Some events change apgregate supply hrom SASO to SAS1. Recogriae teo vert Dat cd ho eet t chrgesupply. What is the equilibrlum after aggregate supply changed It potertial GDP in $1 tlion, den the aruny kaeinflationary gap, a recessionary gap or no output gap?3. Some events change aggregate demand fom ADO to ADI and aggrgale supy m SASO o SAS Smacroeconomic equilibrium

Meaning of Aggregate Demand and Aggregate Supply: The term aggregate demand refers to the…

initally, the chort un aggregate supply cure is SAS and e te dand esAC LAS SAS, 115 SAS 110 105 100 95 0.8 10 12 Reol GOP ilions ol 2005 dollan Using the above graph answer the following questions 1. Some events change aggregate demand bom ADO to ADI dently hw events that coa o the chn demand. What is the equilibrium after aggregute demand changed/it petental S1 e macroeconomic equilbrium? 2 Some events change aggregate supply hrom SASO to SAST. Recogre hwo everts at cd he eet t ungh supply. What is the equlibrium after aggregate supply changed? t potertia GPn $1 tllion, do the manuny hoe an inflationary gap, a recessionary gan or no output gap? 3. Some events change aggregate demand from ADO to ADI and agggale uply um SASO O SAS S macroeconomic equlibrium Price level

initally, the chort un aggregate supply cure is SAS and e te dand esAC LAS SAS, 115 SAS 110 105 100 95 0.8 10 12 Reol GOP ilions ol 2005 dollan Using the above graph answer the following questions 1. Some events change aggregate demand bom ADO to ADI dently hw events that coa o the chn demand. What is the equilibrium after aggregute demand changed/it petental S1 e macroeconomic equilbrium? 2 Some events change aggregate supply hrom SASO to SAST. Recogre hwo everts at cd he eet t ungh supply. What is the equlibrium after aggregate supply changed? t potertia GPn $1 tllion, do the manuny hoe an inflationary gap, a recessionary gan or no output gap? 3. Some events change aggregate demand from ADO to ADI and agggale uply um SASO O SAS S macroeconomic equlibrium Price level

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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