Instructions: Enter your responses as a whole number. Identify the macro equilibrium. Instructions: Use the tool provided 'QE' to identify the current macro equilibrium on the graph. The current macro equilibrium is when real GDP is $ billion. Suppose that full-employment GDP is $12 billion. The real GDP gap is $ billion. Aggregate demand must shift (left or right) by $ billion to achieve the full-employment equilibrium.Real GDP (in billions of dollars per year)

Instructions: Enter your responses as a whole number. Identify the macro equilibrium. Instructions: Use the tool provided 'QE' to identify the current macro equilibrium on the graph. The current macro equilibrium is when real GDP is $ billion. Suppose that full-employment GDP is $12 billion. The real GDP gap is $ billion. Aggregate demand must shift (left or right) by $ billion to achieve the full-employment equilibrium.Real GDP (in billions of dollars per year)

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter9: Classical Macroeconomics And The Self Regulating Economy

Section: Chapter Questions

Problem 14QP

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