MACROECONOMICS

Price level Potential GDP Real GDP supplied Real GDP demanded (GDP deflator) (billions of 2009 dollars) (billions of 2009 dollars) (billions of 2009 dollars) 150 25 34 16 140 25 31 19 130 25 28 22 120 25 25 25 110 25 23 28 a) Based on the above data for a hypothetical nation, determine the i. real GDP at full employment ii. price level and full employment b) If a supply shock decreases the quantity of real GDP supplied by $6 billion at each price level, determine the new equilibrium real GDP. c) Now, given that aggregate demand increases so that the quantity of real GDP demanded is $6 billion more at each price level, determine the new equilibrium real GDP