Question: Question 10 Use the graph below to answer a question. 600 500 AS 400 Price Level (average price) 300 If full-employment real GDP is $1,050

Question 10 Use the graph below to answer a question. 600

Question 10 Use the graph below to answer a question. 600 500 AS 400 Price Level (average price) 300 If full-employment real GDP is $1,050 billion, what problem does this economy have? 200 100 200 400 600 800 1,000 1,200 1,400 Real GDP (in billions of dollars per year) This economy has a recessionary gap. O This economy does not have a problem This economy has an inflationary gap. D Question 11 Use the graph below to answer a question. 600 500 400 Price Level (average price) 300 If full-employment real GDP is $1,080 billion, how large is the real GDP gap $_ billion 200 100 200 400 600 800 1,000 1,200 1,400 Real GDP (in billions of dollars per year)

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