Price Level (average price) РЕ PF 5.8 6.0 C AD a 6.2 QF AS AD₂ Real Output (trillions of dollars per year) AD3 Assume aggregate demand is represented by AD1 and full-employment output is $6.0 trillion. The aggregate demand shortfall is equal to the distance between O A. Points b and e. OB. Points a and b. O C. Points a and d. O D. Points a and e.
Price Level (average price) РЕ PF 5.8 6.0 C AD a 6.2 QF AS AD₂ Real Output (trillions of dollars per year) AD3 Assume aggregate demand is represented by AD1 and full-employment output is $6.0 trillion. The aggregate demand shortfall is equal to the distance between O A. Points b and e. OB. Points a and b. O C. Points a and d. O D. Points a and e.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter23: Aggregate Demand And Aggregate Supply
Section: Chapter Questions
Problem 3CQQ
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