EBK MACROECONOMICS
EBK MACROECONOMICS
13th Edition
ISBN: 8220106847848
Author: PARKIN
Publisher: Pearson Education (US)
Question
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Chapter 10, Problem 25APA

(a)

To determine

Identify the main features of the U.S economy in the second quarter of 2017.

(b)

To determine

Identify if the U.S. economy has a recessionary gap of inflationary gap in 2017.

(c)

To determine

Illustrate the Figure to show the changes in aggregate demand and aggregate supply that had occurred in 2016 and 2017 which brought the economy to its situation in mid-2017.

(d)

To determine

Illustrate Figure using the aggregate demand and aggregate supply model to show the changes in aggregate demand and aggregate supply when economy resorted its full employment. 

(e)

To determine

Illustrate Figure using the aggregate demand and aggregate supply model to show the changes in aggregate demand and aggregate supply when the government increased expenditure on goods and services to restore its full employment.

(f)

To determine

Illustrate Figure using the aggregate demand and aggregate supply model to show the changes in aggregate demand and aggregate supply in short-run and long-run when the economy moved into an inflationary gap.

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