The table sets out Canada's aggregate demand and aggregate supply schedules. Price Real GDP level (GDP demanded deflator) Real GDP supplied (billions of 2000 dollars) 140- 130- 110 ៩៩៖ 900 600 800 800 130 700 1,000 Draw Canada's aggregate demand curve and label it AD. Draw Canada's aggregate supply curve and label it AS Draw a point at Canada's macroeconomic equilibrium. If Canada's potential GDP is $750 billion, draw and label a line to show potential GDP. When potential GDP is $750 billion, there is macroeconomic equilibrium. 120- 110- 100- 90- Price level (GDP deflator) 80 550 650 750 Real GDP (billions of 2000 dollars) 850 950 1050

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Price level (GDP deflator)
140-
Real GDP
supplied
The table sets out Canada's aggregate demand and aggregate supply schedules.
Price
Real GDP
level (GDP
demanded
deflator)
(billions of 2000 dollars)
90
900
600
110
800
800
130
700
1,000
Draw Canada's aggregate demand curve and label it AD.
Draw Canada's aggregate supply curve and label it AS.
Draw a point at Canada's macroeconomic equilibrium.
If Canada's potential GDP is $750 billion, draw and label a line to show potential GDP.
When potential GDP is $750 billion, there is
macroeconomic equilibrium.
130-
120-
110-
100-
90-
σ σ 1
80
550
650
750
850
950
1050
Real GDP (billions of 2000 dollars)
Transcribed Image Text:Price level (GDP deflator) 140- Real GDP supplied The table sets out Canada's aggregate demand and aggregate supply schedules. Price Real GDP level (GDP demanded deflator) (billions of 2000 dollars) 90 900 600 110 800 800 130 700 1,000 Draw Canada's aggregate demand curve and label it AD. Draw Canada's aggregate supply curve and label it AS. Draw a point at Canada's macroeconomic equilibrium. If Canada's potential GDP is $750 billion, draw and label a line to show potential GDP. When potential GDP is $750 billion, there is macroeconomic equilibrium. 130- 120- 110- 100- 90- σ σ 1 80 550 650 750 850 950 1050 Real GDP (billions of 2000 dollars)
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