Create an AD/AS diagram model using the following information:

- This year in June, the Real GDP increased to $532,228 million, indicating that the economy has steadily recovered from its downturn.

- Inflation increased from 3.8% in the second quarter to 3.8% in the third quarter.

- Furthermore, the Output Gap also decreased to 4.7%.

- This outcome indicates that the stimulus measures introduced by the government were successful in stabilizing the economy.

- By September 2022, the economy had fully recovered, with Real GDP reaching $552,547 million, unemployment rate stabilizing at 0.8%, and inflation remaining steady at 7.3%.

- The Output Gap remained at 3.5%.

- The rightward shift of the aggregate demand curve due to government stimulus measures helped the economy to achieve a full recovery.

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To create an ADAS diagram model based on the provided information we will plot the following points ... View the full answer