Question: answer for this question, THX! Problem Set # 5 (1) You are the President's economic advisor and your forecasting team provided you with the following

answer for this question, THX!

Problem Set # 5 (1) You are the President's economic advisor and your forecasting team provided you with the following forecasts for next year: Real GDP Real GDP Potential Demanded Supplied GDP Price Level (Trillions of 2015 dollars) 110 7.5 7.5 This year, real GDP is $6 trillion, potential GDP is $6 trillion, and the price level is 105. The President wants you to explain to him what will happen with the economy by answering the following questions. A. Present an Aggregate Demand and Aggregate Supply Model (Graphs) for the economy using the forecasts for next year (your diagram must be completely labeled to get full marks). Ans

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