4. In Japan, potential GDP is 600 trillion yen and the table shows the aggregate demand and...

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4. In Japan, potential GDP is 600 trillion yen and the table shows the aggregate demand and short-run aggregate supply schedules. Real GDP Real GDP supplied in demanded the short run Price level (trillions of 2000 yen) 75 600 400 85 550 450 95 500 500 105 450 550 115 400 600 125 350 650 135 300 700 a. Draw a graph of the aggregate demand curve and the short-run aggregate supply curve. b. What is the short-run equilibrium real GDP and price level? C. Does Japan have an inflationary gap or a recessionary gap and what is its magnitude

Posted Date: Jun 22, 2024 11:10 PM

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4. In Japan, potential GDP is 600 trillion yen and the table shows the aggregate demand and...

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