What are the price level and real GDP? Does Free zone have an unemployment problem or an
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Figure 17.3 shows the aggregate demand curve, AD, and the short-run aggregate supply curve, AS, in the economy of Free zone. Potential GDP is $300 billion.
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FIGURE 17.3 Chapter Checkpoint Assignable Problems 6 to 9 Price level (GDP price index) 140 130. AS 120- 110 100 AD 200 300 500 100 400 Real GDP (billions of 2009 dollars)
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