Question: The table describes four possible outcomes for 2017. depending on the level of aggregate demand in that year. Potential GDP is $8 trillion and

The table describes four possible outcomes for 2017, depending on the level of aggregate demand in that year.

The table describes four possible outcomes for 2017. depending on the level of aggregate demand in that year. Potential GDP is $8 trillion and the natural unemployment rate is 6 percent. ABCD D Price level (2016-100) 102.5 105.0 107.5 110.0 Unemployment rate (percent of labor force) 9 Draw the four points A,B,C, and D on the aggregate supply curve using the data in the table. Label the points. Draw the short-run aggregate supply curve. Label it AS. >>> Calculate values of real GDP to 1 decimal place. Price level (GDP price index 2016 = 100) 1127 111- 110- 109- 108- 107- 106- 105- 104- 103- 102- 101- 100+ 7.3 7,5 7.7 7.9 8.1 8.3 8.5 Real GDP (trillions of 2016 dollars) 8.7

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