Question: I'm not sure if I am doing this correctly please help. Please show the formulas and any calculations that you do I'm really confused. Thank

I'm not sure if I am doing this correctly please help. Please show the formulas and any calculations that you do I'm really confused. Thank you so much I really appreciate it!

I'm not sure if I am doing this correctly please help. Please

The following graph shows Aggregate Demand, Short:run Aggregate Supply and Long run Aggregate Supply for an economy. Use the graph to answer the following questions: PL LRAS SRAS 178 170 AD2 AD1 18 20 RGDP A. Explain the state of the economy when aggregate demand is at AD1. (1 points) B. How much is the GDP gap when aggregate demand is at AD1 (2 points) C. What would be three appropriate monetary policies to close the gap? Explain each policy. In your answer you should refer to appropriate policy tools. (6 points)

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