Assume the short run aggregate supply curve can be expressed algebraically as Y 4,800 3,000 and the dynamic aggregate demand curve can be written as Y 5,000 1,000 Find the numerical value for equilibrium output in the short run Find the numerical value for the short run inflation rate

Question: Assume the short-run aggregate supply curve can be expressed algebraically as Y = 4,800 + 3,000 and the dynamic aggregate demand curve can be written

Assume the short-run aggregate supply curve can be expressed algebraically as
Y = 4,800 + 3,000π
and the dynamic aggregate demand curve can be written as
Y = 5,000 – 1,000π.
Find the numerical value for equilibrium output in the short run? Find the numerical value for the short-run inflation rate?

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