Question: please explain it as soon as possible its urgent ent xlaunchUrl=https%253A9%252F%252Fnewconnect.mheducation.com%252F#/activity/q Saved Help Save & in the following table. Assume that the potential GDP of
please explain it as soon as possible its urgent

ent xlaunchUrl=https%253A9%252F%252Fnewconnect.mheducation.com%252F#/activity/q Saved Help Save & in the following table. Assume that the potential GDP of the economy of Arion is $1,120, and that the aggregate demand and aggregate supply are as shown Che Aggregate Quantity Demanded 1 Aggregate Quantity $1, 200 Demanded 2 Price Index Aggregate Quantity 96 Supplied 1 , 180 $1, 040 1 , 160 97 1, 060 1 , 140 98 1, 080 1 , 120 99 1, 100 1, 100 100 1, 120 1 , 080 101 1, 140 1 , 060 102 1, 160 103 1 , 040 1, 180 104 1, 200 1, 020 105 1, 220 . The value of equilibrium real GDP is and the price level is There is no | gap. The gap is equal to $ o]. b. If firms become more optimistic and aggregate demand increases by $40, complete the aggregate demand 2 column in the table above. The new value of equilibrium real GDP is ] and the price level is now 101 .There is lan inflationary | gap. The gap is equal to $ 2 of 5 . Next > W 1 0 XENG 5:09 PM P 2020-07- here to search
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
