Question
In the graph of Figure I, the annual growth rate of the GDP of the United States economy is presented since the first quarter of
In the graph of Figure I, the annual growth rate of the GDP of the United States economy is presented since the first quarter of 2004, while, in the graphs of Figure II, three different scenarios of the relationship are represented between demand and aggregate supply that reflect different situations of economic growth.
1.Using the shifts in the aggregate demand curve in each of the three graphs in Figure II, explain the aggregate consumption and investment function.
2.Explain in detail what is happening in Graph A of Figure II and, after examining the data in the graph of Figure I, identify in what period of time this situation is occurring.
3.Explain in detail what is happening in Graph B of Figure II and, after examining the data in the graph of Figure I, identify in what period of time this situation is occurring.
4.Explain in detail what is happening in Graph C of Figure II and, after examining the data in the graph of Figure I, identify in what period of time this situation is occurring.
Figure I - Real data of the United States economy
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Understanding Basic Statistics
Authors: Charles Henry Brase, Corrinne Pellillo Brase
6th Edition
978-1133525097, 1133525091, 1111827028, 978-1133110316, 1133110312, 978-1111827021
