Please solve parts G,H,I The table below shows the initial aggregate demand, short-run, and long-run aggregate supply schedules -Aggregate demand(billion $)Aggregate Supply (billion Long run Aggregate supplyPrice level$)(billion $)801600400800901400600800100120080080011010001000800120800120080013060014008001404001600800a.Draw the AD, SAS, and LAS curves, show the equilibrium level of real GDP and price level.b.What is the value of Potential GDP?C.What is the value of short run macroeconomics equilibrium GDP ?d.What is the value of short run macroeconomics equilibrium price level?Is the country producing above, below or at full employment?е.f.What is the name of the gap if any?g.What is the size of the gap?h.Is there positive or negative cyclical unemployment ?i.Do you have to Increase or decrease GDP?j.Should the country implement expansionary or contractionary policy?

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v the AD, SAS, and LAS curves, show the equilibrium level of real GDP and price level. is the value of Potential GDP? t is the value of short run macroeconomics equilibrium GDP ? is the value of short run macroeconomics equilibrium price level? e country producing above, below or at full employment? t is the name of the gap if any? - is the size of the gap? ere positive or negative cyclical unemployment ? ou have to Increase or decrease GDP?

v the AD, SAS, and LAS curves, show the equilibrium level of real GDP and price level. is the value of Potential GDP? t is the value of short run macroeconomics equilibrium GDP ? is the value of short run macroeconomics equilibrium price level? e country producing above, below or at full employment? t is the name of the gap if any? - is the size of the gap? ere positive or negative cyclical unemployment ? ou have to Increase or decrease GDP?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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