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laecon1.lyryx.com C MATH-209-2204-J: MATH. 209... Course: ECON 203 D 2204 Principles of Macroeconomics... Course: ECON 203 D 2204 Principles of Macroeconomics... Lab 8 (Question 2) ~ Lyryx Lear... Course Home lyryx Print Preferences Help Lab 8 (Question 2) Name: Joaquin Guerrero Date: 2021-04-04 Question 2 [5 points] An economy's aggregate demand curve (the relationship between short-run equilibrium output and inflation) is described by the equation: Y = 17,000 - 17,000TT, where IT is the inflation rate. Initially, the inflation rate is 5 percent or 17 = 0.05. Potential output Yo equals 16,320. Note: Keep as much precision as possible during your calculations. Your final answer for inflation should be accurate to at least two decimal places and output should be accurate to the nearest whole number. a) Find inflation and output in short-run equilibrium. Inflation : 0 % Output : $ 0 b) Find inflation and output in long-run equilibrium. Inflation : 0 % Output : $ 0 Official Time: 14:17:33 SUBMIT AND MARK SAVE AND CLOSE