5. The table below shows Yellowland's economy aggregate demand and supply schedules. Yellowland's potential GDP is $300 billion. Price level Real GDP demanded Real GDP supplied (billions of 2005 dollars) (billions of 2005 dollars) 90 450 150 100 400 250 110 350 350 120 300 450 130 250 550 A. Plot the aggregate demand curve, the short-run aggregate supply curve, and the long- run aggregate supply curve. B. What are the short-run equilibrium real GDP and price level in Yellowland? C. What is the long-run equilibrium real GDP? D. Is Yellowland's short-run macroeconomic equilibrium a full-employment equilibrium, below full-employment equilibrium, or above full-employment equilibrium? What is the recessionary gap (if any)? What is the inflationary gap (if any)? E. Suppose aggregate supply decreases by $150 billion. Plot the new aggregate supply curve. How do real GDP and the price level change in the short run? F. Is Yellowland's new short-run macroeconomic equilibrium a full-employment equilibrium, below full-employment equilibrium, or above full-employment equilibrium? What is the recessionary gap (if any)? What is the inflationary gap (if any)