Price level (GDP price index, 2012 = 100) 140 130 120 110 105 100 90 90 0 19 Potential GDP AD 20 21 AS 22 Real GDP (trillions of 2012 dollars) The figure above shows a nation's aggregate demand curve, aggregate supply curve, and potential GDP. In the figure above, the. gap is one trillion dollars. To close the gap, the government can change expenditure by one trillion dollars. recessionary; more than O recessionary; exactly O recessionary; less than O inflationary; more than

Price level (GDP price index, 2012 = 100) 140 130 120 110 105 100 90 90 0 19 Potential GDP AD 20 21 AS 22 Real GDP (trillions of 2012 dollars) The figure above shows a nation's aggregate demand curve, aggregate supply curve, and potential GDP. In the figure above, the. gap is one trillion dollars. To close the gap, the government can change expenditure by one trillion dollars. recessionary; more than O recessionary; exactly O recessionary; less than O inflationary; more than

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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