QUESTION 44 The following graph shows the beginning on an Inflation cycle, describe what the following represents? 1. What the move from AD0 to AD1 represent and give an example of what might have caused the change 2. What does the change from 110 to 113 represent 1 3. How much in dollars does real GDP change Price level (GDP deflator, 2012100) 130 120 113 110 100 0 19.0 19.5 LAS SAS ADO AD₁ 20.0 20.5 21.0 21.5 Real GDP (trillions of 2012 dollars)
QUESTION 44 The following graph shows the beginning on an Inflation cycle, describe what the following represents? 1. What the move from AD0 to AD1 represent and give an example of what might have caused the change 2. What does the change from 110 to 113 represent 1 3. How much in dollars does real GDP change Price level (GDP deflator, 2012100) 130 120 113 110 100 0 19.0 19.5 LAS SAS ADO AD₁ 20.0 20.5 21.0 21.5 Real GDP (trillions of 2012 dollars)
Chapter1: Making Economics Decisions
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