n the graph of Figure I, the annual growth rate of the GDP of the United States economy is presented since the first quarter of 2004, while, in the graphs of Figure II, three different scenarios of the relationship are represented between demand and aggregate supply that reflect different situations of economic growth. 3. Explain in detail what is happening in Graph B of Figure II (economic growth, expansion, inflation or reccesion) according to the long and short term aggregate supply curve and aggregate demand and general price level and, examining the data in the graph of Figure I Table 1.1.1., and identify in what period of time this situation (identified in the Graph B) is ocurring.     Figure I = Real data of the United States economy Figure 2 = Representation of the aggregate demand and supply model DA = AGGREGATE DEMAND

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In the graph of Figure I, the annual growth rate of the GDP of the United States economy is presented since the first quarter of 2004, while, in the graphs of Figure II, three different scenarios of the relationship are represented between demand and aggregate supply that reflect different situations of economic growth.
3. Explain in detail what is happening in Graph B of Figure II (economic growth, expansion, inflation or reccesion) according to the long and short term aggregate supply curve and aggregate demand and general price level and, examining the data in the graph of Figure I Table 1.1.1., and identify in what period of time this situation (identified in the Graph B) is ocurring.

 

 

Figure I = Real data of the United States economy
Figure 2 = Representation of the aggregate demand and supply model
DA = AGGREGATE DEMAND
GDP = GROSS DOMESTIC PRODUCT
NGP = GENERAL PRICE LEVEL
OAL = LONG TERM AGGREGATE OFFER
OAC = SHORT-TERM AGGREGATE OFFER

Annual Percentage Change in U.S. Real GDP
10
(Quarter-Annual)
8
6
-8
-10
Fuente: Table 1.1.1. Percent Change from Preceding Period in Real Gross Domestic Produc
[Percent] Seasonally adjusted at annual rates
Annual Percentage Change
Ql- 2004
QI- 2006
QI- 2008
Transcribed Image Text:Annual Percentage Change in U.S. Real GDP 10 (Quarter-Annual) 8 6 -8 -10 Fuente: Table 1.1.1. Percent Change from Preceding Period in Real Gross Domestic Produc [Percent] Seasonally adjusted at annual rates Annual Percentage Change Ql- 2004 QI- 2006 QI- 2008
Gráfica A
Gráfica B
Gráfica C
OAC
OAL
NGP
NGP
OAL OAL
OAC
NGP
OAC
OAL
OAL
OAC
DA
OAL
120
112
INO
102
DA
DA
DA
DA
DA
PB Mes de
PB Mes de
milones
ILO 120 130
3.0
150
PB (Mles
de millones
milones
Transcribed Image Text:Gráfica A Gráfica B Gráfica C OAC OAL NGP NGP OAL OAL OAC NGP OAC OAL OAL OAC DA OAL 120 112 INO 102 DA DA DA DA DA PB Mes de PB Mes de milones ILO 120 130 3.0 150 PB (Mles de millones milones
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