The following graph shows an economy in long-run macroeconomic equilibrium. All the usual assumptions of the...

 

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The following graph shows an economy in long-run macroeconomic equilibrium. All the usual assumptions of the dynamic demand and supply model hold Firms and workers expect there to be a decline in the inflation rate in the coming year. Use the line tool to draw three fines 1) the new LRAS, 2) the new SRAS, and 3) the new AD line in the next year. Properly label eachine Note: if you are not prompted for labels, you have used the wrong drawing tool Use the point tool to identify the new price level and equilibrium level of real GDP Label this point Price level 19 LRAS Min CA Real GDP (V) SRAS BRA AD The following graph shows an economy in long-run macroeconomic equilibrium. All the usual assumptions of the dynamic demand and supply model hold Firms and workers expect there to be a decline in the inflation rate in the coming year. Use the line tool to draw three fines 1) the new LRAS, 2) the new SRAS, and 3) the new AD line in the next year. Properly label eachine Note: if you are not prompted for labels, you have used the wrong drawing tool Use the point tool to identify the new price level and equilibrium level of real GDP Label this point Price level 19 LRAS Min CA Real GDP (V) SRAS BRA AD