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AD AS 140 130 120 110 100 800 1300 1800 GDP (SOOO) Refer to the AD-AS model and answer the questions below. a Actual GDP

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AD AS 140 130 120 110 100 800 1300 1800 GDP (SOOO) Refer to the AD-AS model and answer the questions below. a Actual GDP is $800, $1300, $1800 (billion). $1800 b) The production of and spending on Australian goods/services is in equilibrium at $800, $1300, $1800 (billion) C) Maximum GDP if 100% of Australia's resources are used = d) GDP at full Employment (of resources) is $800, $1300, $1800 (billion). e) GDP at current Employment (of resources) is $800, $1300, $1800 (billion). f) What is the GDP gap in $billion? Q4

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