Instructions: Enter your responses as a whole number. 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. Suppose that full-employment GDP is $12 billion. The real GDP gap is $ billion. Aggregate demand must shift (left or right) by $ billion to achieve the full-employment equilibrium.Real GDP (in billions of dollars per year)
Instructions: Enter your responses as a whole number. 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. Suppose that full-employment GDP is $12 billion. The real GDP gap is $ billion. Aggregate demand must shift (left or right) by $ billion to achieve the full-employment equilibrium.Real GDP (in billions of dollars per year)
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![10
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7
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10 12 14 16 18 20
Real GDP (in billions of dollars per year)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff7f952cd-5881-474e-abe3-3e7f5b667985%2Fcb1557c1-8508-4021-a90d-edb5b444206d%2Fstk10pi_processed.png&w=3840&q=75)
Transcribed Image Text:10
9
8
AS
7
6
5
4
3
2
1
AD
0
2
4
68
10 12 14 16 18 20
Real GDP (in billions of dollars per year)
![Instructions: Enter your responses as a whole number. 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.
Suppose that full - employment GDP is $12 billion. The real GDP gap is $ billion. Aggregate demand must shift (left or
right) by $ billion to achieve the full - employment equilibrium.Real GDP (in billions of dollars per year)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Ff7f952cd-5881-474e-abe3-3e7f5b667985%2Fcb1557c1-8508-4021-a90d-edb5b444206d%2F3j1qcom_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Instructions: Enter your responses as a whole number. 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.
Suppose that full - employment GDP is $12 billion. The real GDP gap is $ billion. Aggregate demand must shift (left or
right) by $ billion to achieve the full - employment equilibrium.Real GDP (in billions of dollars per year)
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