The table describes four possible outcomes for 2017, depending on the level of aggregate demand in that year. Potential GDP is $12 trillion and the natural unemployment rate is 6 percent. Price level (GDP price index 2016 = 100) 112- 111- 110- Price level Unemployment rate (percent of labor force) (2016 = 100) 109- 102.5 9. 108- 105.0 6. 107- C 107.5 4. 106- 110.0 3 105- Draw the four points A,B,C, and D on the aggregate supply curve using the data in the table. Label the points. 104- 103- Draw the short-run aggregate supply curve. Label it AS. >>> Calculate values of real GDP to 1 decimal place. 102- 101- 100- 11.1 11.3 11.5 11.7 11.9 12.1 12.3 12.5 12.7 129 Real GDP (trillions of 2016 dollars) >>> Draw only the obiects specified in the guestion

Price Level LRAS I о, он ог Real GDP SRAS, SRAS SRAS₂ ON=Natural Real GDP AD Refer to Figure 9-3. If the economy is in short-run equilibrium at point C, the (actual) unemployment rate is less than the natural unemployment rate. the (actual) unemployment rate is equal to the natural unemployment rate. the (actual) unemployment rate is greater than the natural unemployment rate. the relationship between the (actual) unemployment rate and the natural unemployment rate cannot be determined from the available information.

Is the equilibrium at full employment, inflation or recession? Price level Aggregate Demand Aggregate Potential GDP Supply 50 $700 $100 100 $600 $200 150 $450 $450 200 $300 $480 250 $220 $500 300 $150 $510 $510 350 $100 $512

The economy's MPN is given by MPN = 110 - N0.5, where N is the level of employment. Labour supply is equal to NS = 100w², where w is the real wage. How much is the unemployment rate? 0% 8.25% 6.6% 10%

Ceteris paribus, when discouraged workers become more hopeful about their job prospects and begin actively searching for employment, Group of answer choices the official unemployment rate will increase. the official unemployment rate will remain unchanged. the official unemployment rate will decrease. the official unemployment rate could increase or decrease.

Suppose the real GDP of an economy is $440 billion dollars and its unemployment rate is 6%. If the natural rate of unemployment is estimated at 4%, what is the value of the country's potential GDP (LAS) in billions of dollars? Enter your response below rounded to 1 decimal place. Value of the country's potential GDP (LAS) is $ 457.6 billion.

The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Unemployment Type Frictional Cyclical Structural Total unemployment True Rate (Percent) 3.3 0.0 1.0 True or False: This economy is currently at its natural rate of unemployment. False 4.3

If the nominal wage rises by 6 percent and the price level rises by 7 percent, the real wage will fall by 3 percent. fall by 1 percent. rise by 11 percent. rise by 1 percent.

Suppose the real GDP of an economy is $440 bilition dollars and its unemployment rate is 6%. If the natural rate of unemployment is estimated at 4%, what is the value of the country's potential GDP (LAS) in billions of dollars? Value of the country's potential GDP (LAS) is $ .......billion.

If next year’s aggregate price level is $4, what must their wage be next year so that the workers have a real wage that is 50% greater?