Answer the following questions on the basis of the following three sets of data for the country of North Vaudeville: LO12.4

a. Which set of data illustrates aggregate supply in the immediate short run in North Vaudeville? The short run?
The long run?

b. Assuming no change in hours of work, if real output per hour of work increases by 10 percent, what will be the new levels of real GDP in the right column of A? Do the new data reflect an increase in aggregate supply or do they indicate a decrease in aggregate supply?

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(A) (B) (C) Price Real Price Real Price Real Level GDP Level GDP Level GDP 110 275 100 200 110 225 100 250 100 225 100 225 95 225 100 250 95 225 90 200 100 275 90 225