Question: The figure given below represents the equilibrium real GDP and price level in the aggregate demand and aggregate supply mode. In the figure below, AD

The figure given below represents the equilibrium real GDP and price

The figure given below represents the equilibrium real GDP and price level in the aggregate demand and aggregate supply mode. In the figure below, AD is the aggregate demand curve; SRAS is the short-run aggregate supply curve; LRAS is the long-run aggregate supply curve.

FIGURE 17:

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