Question: Exercise 6 (5 points) What is the current equilibrium price level and real GDP for the economy illustrated in the figure above? Does this economy

Exercise 6 (5 points)What is the current equilibrium price level and real GDP for the economy illustrated in the figure above? Does this economy have an inflationary gap, a recessionary gap, or neither? As it adjusts toward full employment, which curve shifts? What is the equilibrium real GDP and price level that the economy will ultimately reach? Explain thoroughly.

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