175 170 Price Level 165 160 B 155 Aggregate Supply A CI 150 Aggregate Demand 145 (new) 140 - Aggregate Demand 135 + 8 10 12 14 16 QE QF Real GDP QE = equilibrium output OF = full employment rate of output Real GDP is in billions The amount of the AD shortfall is: Select one: O a. $2 billion b. $4 billion c. $8 billion O d. $10 billion O e. $12 billion Question 4 Not yet answered Points out of 1.00 Flag question What is the amount of the GDP gap (aka, recession gap)? Select one: O a. $2 billion O b. $4 billion O c. $8 billion O d. $10 billion O e. $12 billion