Question: Problem 18-2 (Algo) ADVANCED ANALYSIS Suppose That The Equation For A Particular Short-Run AS Curve Is P= 20 + 0.5Q, Where P Is The Price

Problem 18-2 (Algo) ADVANCED ANALYSIS Suppose That The Equation For A Particular Short-Run AS Curve Is P= 20 + 0.5Q, Where P Is The Price Level And Q Is Real Output In Dollar Terms Instructions: Enter Your Answers As Whole Numbers. A. What Is Q If The Price Level Is 120? Suppose That The Q In Your Answer Is The Full-Employment Level Of Output. B. By How Much

Problem 18-2 (Algo) ADVANCED ANALYSIS Suppose that the equation for a particular

Problem 18-2 (Algo) ADVANCED ANALYSIS Suppose that the equation for a particular short-run AS curve is P= 20 +0.5Q, where Pis the price level and Q is real output in dollar terms. Instructions: Enter your answers as whole numbers. a. What is Q if the price level is 120? Suppose that the Qin your answer is the full-employment level of output. b. By how much will increase in the short run if the price level unexpectedly rises from 120 to 132? By how much will Q increase in the long run due to the price level increase?

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