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Interpretation of the aggregate supply and demand model In the graph of Figure I, the annual growth rate of the GDP of the United States
Interpretation of the aggregate supply and demand model
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.
- 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.
- 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.
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