Suppose that the long-run aggregate supply curve is positioned at a real GDP level of $15 trillion

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Suppose that the long-run aggregate supply curve is positioned at a real GDP level of $15 trillion in base-year dollars, and the long-run equilibrium price level (in index number form) is 115. What is the full-employment level of nominal GDP?

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Economics Today

ISBN: 978-0132554619

16th edition

Authors: Roger LeRoy Miller

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Question Posted: Aug 01, 2016 12:39 PM

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Suppose that the long-run aggregate supply curve is positioned at a real GDP level of $15 trillion

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The long run aggregate supply vurve LRAS signifies all the factors of production are fully ...View the full answer

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