(Academic) ciples of Macroeconomics Spring 20 fall20 Keynes explained that recessions and depressions occur because of on 11 et -red Select one: ed out of O a. excess aggregate demand. O b. inadequate aggregate demand. g question O c. inadequate aggregate supply. O d. excess aggregate supply. vious page Type here to search hp Price level LRAS LRAS2 SRAS f -SRAS ion 112 110 B AD AD 0 11.0 11.8 12.1 Real GDP (trillions of dollars) Refer to Figure 13-4. In the figure above, AD1, LRAS1 and SRAS, denote AD, LRAS and SRAS in year 1, while AD2, LRAS2 and SRAS2 denote AD, LRAS and SRAS in year 2. Given the economy is at point A in year 1, what is the actual growth rate in GDP in year 2? Select one: O a. 8.0% O b. 10.0% O e here to search S B hp % 7 4