Question: ADVANCED ANALYSIS Suppose that the equation for a particular short-run AS curve is P = 20 + 0.5 Q , where P is the price

ADVANCED ANALYSIS Suppose that the equation for a particular short-run AS curve is P = 20 + 0.5Q, where P is the price level and Q is real output in dollar terms.

ADVANCED ANALYSIS Suppose that the equation for a particular short-run AS curve is P= 20 + 0.5Q, where P is the price level and Q is real output in dollar terms. Instructions: Enter your answers as a whole number. a. What is Q if the price level is 140? b. Suppose that the Q in your answer is the full-employment level of output. By how much will Q increase in the short run if the price level unexpectedly rises from 140 to 160? By how much will Q increase in the long run due to the price-level incroac a. What is Q if the price level is 140? b. Suppose that the Q in your answer is the full-employment level of output. By how much will Q increase in the short run if the price level unexpectedly rises from 140 to 160? By how much will Q increase in the long run due to the price-level increase

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