ECONOMIC NORUN PARTIASUCKS Use the graph provided to answer the questions about LONG-RUN ECONOMIC GROWTH. Then apply what you've learned to answer the questions below and explain how long-run growth affects ECONOMIC CONDITIONS. AGGREGATE ECONOMY OF BELGIUM P What has happened to Belgium's CAPACITY TO PRODUCE in the long-run? AS By how much did Belgium's economy AS2 grow in the long-run? What happened to the price level in Belgium in the long-run? P2-.... What is Belgium's UNEMPLOYMENT RATE at LRAS2? Explain. AD $800 $900 GDPR (Billions) What has happened to CONSUMPTION levels in Belgium in the long-run? Explain. What has happened to the STANDARD OF LIVING in Belgium in the long-run? Explain. Explain how an change in LRAS to $900 billion of Real GDP is different from a short-run increase in Real GDP output to $900 billion