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

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

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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