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1)Graph the following: Amount of Real GDP demanded: 100; 200; 300; 400; 500, Price Level: 300; 250; 200; 150; 100, Amount of Real GDP supplied:
1)Graph the following: Amount of Real GDP demanded: 100; 200; 300; 400; 500, Price Level: 300; 250; 200; 150; 100, Amount of Real GDP supplied: 450; 400; 300; 200; 100. a) From the graph above,what is the equilibrium price and quantity? B) Create a new curve for the consumers. They wish to increase real output by 200 at each price level. C)What is the new equilibrium price and quantity? 2) What are the things that cause a shift in the aggregate supply curve? 3) What are the things that cause a change in aggregate demand? 4) What explains the downward slope of the aggregate demand curve? 5) What does aggregate demand measure? What type of relationship exists between those things
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