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Hi please help in these questions in a simple words. Thank you 5. What are the components of aggregate demand? ANS: 6. Draw the Aggregate

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Hi please help in these questions in a simple words. Thank you

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5. What are the components of aggregate demand? ANS: 6. Draw the Aggregate Demand and Aggregate Supply curves for an economy and label the diagram. What is meant by Potential GDP (Long-Run Aggregate Supply)? Draw the Long Run Aggregate Supply if there is a recessionary gap. ANS: 7. Explain how you could get an increase in Long-Run AS (Potential GDP)? ANS: 8. What does RGDP mean? Why do we need to use RGDP to monitor economic growth? ANS

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