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Cherk thy werts

Assume that the accompanying graph depicts aggregate supply and demand conditions in an economy. Full employment occurs when $$4\mathrm{.}5$ trillion of real output is produced. The economy is currently in equilibrium at point $A.$

Keai Uutput $($III urimons UI colldis per year$)$

Instructions: In parts a and b$,$ round your responses to one decimal place if necessary. In part c$,$ enter your response as a whole number.

a$.$ What is the equilibrium rate of output?

$ $$ trillion per year

b$.$ How far short of full employment is the equilibrium rate of output?

$ $$ trillion

c$.$ If aggregate demand shifted enough for the economy to reach full$-$employment equilibrium, what is the price level at this full$-$employment equilibrium?

$$