13. Explain the combined effects of these events on U.S. real GDP and the price level, starting from a position of long-run equilibrium.

Use the following data to work Problems 14 and 15. The table shows the aggregate demand and short-run aggregate supply schedules of a country in which potential GDP is $1,050 billion.

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Real GDP demanded Real GDP supplied in the short run Price level (billions of 2005 dollars) 100 1,150 1,050 110 1,100 1,100 120 1,050 1,150 130 1,000 1,200 140 950 1,250 150 900 1,300 160 850 1,350