1. U.S. potential GDP is $16.0 trillion. Draw a line to indicate potential GDP. Label it...

 

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1. U.S. potential GDP is $16.0 trillion. Draw a line to indicate potential GDP. Label it Potential GDP. (0.5 mark) 2. The U.S. economy has a recessionary gap. a. Draw the aggregate demand curve. Label it AD, (0.25 mark) b. Draw the aggregate supply curve. Label it AS,. (0.25 mark) c. Draw a point at the macroeconomic equilibrium. Label it E1. (0.25 mark) 3. The world economy goes into an expansion. a. Draw a curve to show the effect of the world expansion on the U.S. economy. (0.5 mark) b. Draw a point at the new macroeconomic equilibrium. Label it E2. (0.25 mark) 4. In the short run, the global expansion A. has no effect on U.S. unemployment B. increases U.S. unemployment C. decreases U.S. unemployment (0.5 mark) 150 140- 130- 120- 110 100- 90- 80- Price level (GDP price index, 2009 = 100) 70+ 14.0 15.0. 16.0 17.0 18.0 Real GDP (trillions of 2009 dollars). >>> Draw only the objects specified in the question. 13.0 19.0 1. U.S. potential GDP is $16.0 trillion. Draw a line to indicate potential GDP. Label it Potential GDP. (0.5 mark) 2. The U.S. economy has a recessionary gap. a. Draw the aggregate demand curve. Label it AD, (0.25 mark) b. Draw the aggregate supply curve. Label it AS,. (0.25 mark) c. Draw a point at the macroeconomic equilibrium. Label it E1. (0.25 mark) 3. The world economy goes into an expansion. a. Draw a curve to show the effect of the world expansion on the U.S. economy. (0.5 mark) b. Draw a point at the new macroeconomic equilibrium. Label it E2. (0.25 mark) 4. In the short run, the global expansion A. has no effect on U.S. unemployment B. increases U.S. unemployment C. decreases U.S. unemployment (0.5 mark) 150 140- 130- 120- 110 100- 90- 80- Price level (GDP price index, 2009 = 100) 70+ 14.0 15.0. 16.0 17.0 18.0 Real GDP (trillions of 2009 dollars). >>> Draw only the objects specified in the question. 13.0 19.0