{ "key_pair_value_system": true, "answer_rating_count": "", "question_feedback_html": { "html_star": "", "html_star_feedback": "" }, "answer_average_rating_value": "", "answer_date_js": "2024-06-21T07:08:25-04:00", "answer_date": "2024-06-21 07:08:25", "is_docs_available": "", "is_excel_available": "", "is_pdf_available": "", "count_file_available": 0, "main_page": "student_question_view", "question_id": "3413039", "url": "\/study-help\/questions\/2-the-phillips-curve-in-the-short-run-and-long-3413039", "question_creation_date_js": "2024-06-21T07:08:25-04:00", "question_creation_date": "Jun 21, 2024 07:08 AM", "meta_title": "[Solved] 2. The Phillips curve In the short run an | SolutionInn", "meta_description": "Answer of - 2. The Phillips curve In the short run and long run In the year 2023, aggregate demand and aggregate supply In the fic | SolutionInn", "meta_keywords": "2,phillips,curve,short,run,long,year,2023,aggregate,demand,supply,fictional", "question_title_h1": "2. The Phillips curve In the short run and long run In the year 2023, aggregate demand and aggregate supply In the fictional country of", "question_title": "2. The Phillips curve In the short run and long run In", "question_title_for_js_snippet": "2 The Phillips curve In the short run and long run In the year 2023, aggregate demand and aggregate supply In the fictional country of Demet are represented by the curves ALboot and AS on the following graph Suppose the natural level of output In this economy Is $7 trillion Do the following graph, use the green line (triangle symbol) to plot the long fun aggregate supply (LRAS) curve for this economy Correct Anwar Tour Answer LRAB Outcome C PRICE LEVA AP 2 2 OUTPUT (Trillions of dollars) Points 0 3 1 Explanation Close Explanation The long run aggregate supply curve Is a vertical line at the natural level of output Therefore, In this case, you should have drawn a vertical line at $7 brillian Economists have forecast that if the government does nothing and the economy continues to grow at the current rate, aggregate demand In 2024 will be given by the AD curve, resulting In the outcome Illustrated by point A If the government pursues contractionary policy, aggregate demand In 2024 will be given by the AL' curve, resulting In the outcome illustrated by point B", "question_description": "\"image
\"image<\/div><\/div><\/div> 2. The Phillips curve In the short run and long run In the year 2023, aggregate demand and aggregate supply In the fictional country of Demet are represented by the curves ALboot and AS on the following graph. Suppose the natural level of output In this economy Is $7 trillion. Do the following graph, use the green line (triangle symbol) to plot the long-fun aggregate supply (LRAS) curve for this economy. Correct Anwar Tour Answer LRAB Outcome C PRICE LEVA AP 2:2 OUTPUT (Trillions of dollars) Points: 0.3\/1 Explanation: Close Explanation The long-run aggregate supply curve Is a vertical line at the natural level of output. Therefore, In this case, you should have drawn a vertical line at $7 brillian. Economists have forecast that if the government does nothing and the economy continues to grow at the current rate, aggregate demand In 2024 will be given by the AD: curve, resulting In the outcome Illustrated by point A. If the government pursues = contractionary policy, aggregate demand In 2024 will be given by the AL' curve, resulting In the outcome illustrated by point B", "transcribed_text": "", "related_book": { "title": "Financial Accounting in an Economic Context", "isbn": "9781118139424, 9781118139431, 470635290, 1118139429, 1118139437, 978-0470635292", "edition": "8th Edition", "authors": "Jamie Pratt", "cover_image": "https:\/\/dsd5zvtm8ll6.cloudfront.net\/si.question.images\/book_images\/61.jpg", "uri": "\/textbooks\/financial-accounting-in-an-economic-context-8th-edition-61", "see_more_uri": "" }, "free_related_book": { "isbn": "3642215173", "uri": "\/textbooks\/information-security-and-cryptology-6th-international-conference-inscrypt-2010-shanghai-china-october-2010-revised-selected-papers-2011-edition-978-3642215179-218900", "name": "Information Security And Cryptology 6th International Conference Inscrypt 2010 Shanghai China October 2010 Revised Selected Papers", "edition": "2011 Edition" }, "question_posted": "2024-06-21 07:08:25", "see_more_questions_link": "\/study-help\/questions\/business-corporate-finance-2020-July-01", "step_by_step_answer": "The Answer is in the image, click to view ...", "students_also_viewed": [ { "url": "\/a-rigid-tank-of-volume-83-m3-contains-100-kg", "description": "A rigid tank of volume 83 m3 contains 100 kg of H2O at 100oC. 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