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Coolway is an open economy that is currently in a recessionary output gap. Coolway's banking system has ample reserves. (a) Draw a correctly labeled graph

Coolway is an open economy that is currently in a recessionary output gap. Coolway's banking system has ample reserves. (a) Draw a correctly labeled graph of the long-run aggregate supply, short-run aggregate supply, and aggregate demand curves, and show each of the following. (i) The current equilibrium real output and price level, labeled as and Y1 and PL1, respectively (ii) Full-employment output, labeled YF

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