In Japan the national GDP is 600 billion yen and Table muetsra aggregate demand and aggregate supply

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In Japan the national GDP is 600 billion yen and Table muetsra aggregate demand and aggregate supply in the short term. Real GDP demanded real GDP supplied in the short term

Price Level

75 600 400

85 550 450

95 500 500

105 450 550

115 400 600

125 350 650

135 300 700

a. Draw a graph of the aggregate demand curve and aggregate supply curve short term

b. What is the equilibrium real GDP Short-Term and the price level?

c. Japan has a gap inflationary or recessionary gap, and what is its magnitude?

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Foundations of Macroeconomics

ISBN: 978-0134492001

8th edition

Authors: Robin Bade, Michael Parkin

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Question Posted: Sep 19, 2013 04:06 AM

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In Japan the national GDP is 600 billion yen and Table muetsra aggregate demand and aggregate supply

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a Data for graph Price Real GDP Real GDP level demanded supplied in shortterm 75 600 400 85 550 450 ...View the full answer

Foundations of Macroeconomics

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