In Japan, potential GDP is 600 trillion yen. The table shows Japan's aggregate demand and short-run aggregate

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In Japan, potential GDP is 600 trillion yen. The table shows Japan's aggregate demand and short-run aggregate supply schedules.

4.a.Draw a graph of the aggregate demand curve and the short-run aggregate supply curve.

b.What is the short-run equilibrium real GDP and price level?

Price level. Real GDP demanded Real GDP supplied in the short run

( trillions of 2007 yen)

75 600 400

85 550 450

95 500 500

105 450 550

115 400 600

125 350 650

135 300 700

Posted Date: Jun 25, 2024 08:35 PM

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In Japan, potential GDP is 600 trillion yen. The table shows Japan's aggregate demand and short-run aggregate

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