On the first graph, using the data from your quarter of birth in 2019, construct an AD&SRAS&LRAS diagram showing the Short Run Equilibrium on your birthday in 2019. MY BIRTHDAY QUARTER IS Q1 (FEB 8)

Label the value for Potential GDP (Y°) along the horizontal axis. Add the quarter to the label on the LAS curve.

Add the value for actual real GDP (yA) in the correct position relative to the value of potential GDP (yp). The horizontal axis is a number line. Place the value for real GDP either to the left or to the right of the value for potential GDP.

Add the value for the GDP deflator near the middle of the vertical axis.

Locate the (YA, P) pair you just mapped on the Graphing Template. Draw dotted lines from the horizontal and vertical axis to this point.

 

observation_date GDPPOT GDPC1 Output Gap NROU GDPDEF observation_date UNRATE 2019-01-01 18955 18833 4.56 111.51 2019-01-01 4.0 2019-04-01 19045 18983 4.55 112.15 2019-02-01 3.8 2019-07-01 19135 19113 4.54 112.52 2019-03-01 3.8 2019-10-01 19226 19202 4.52 112.98 2019-04-01 3.6 2020-01-01 19314 18952 4.51 113.35 2019-05-01 3.6 2020-04-01 19400 17258 4.50 112.86 2019-06-01 3.6 2020-07-01 19477 18561 4.49 113.89 2019-07-01 3.7 2020-10-01 19559 18768 4.48 114.44 2019-08-01 3.7 2021-01-01 19644 19056 4.47 115.65 2019-09-01 3.5 2021-04-01 19733 19368 4.46 117.41 2019-10-01 3.6 2021-07-01 19823 19479 4.46 119.12 2019-11-01 3.6 2021-10-01 19914 19806 4.45 121.19 2019-12-01 3.6 2022-01-01 20005 19728 4.45 123.62 2020-01-01 3.5 2020-02-01 3.5 GDPC1 Real Gross Domestic Product, Billions of Chained 2012 Dollars, Quarterly, Seasonally Adjusted Annual Rate 2020-03-01 4.4 2020-04-01 14.7 GDPPOT Real Potential Gross Domestic Product, Billions of Chained 2012 Dollars, Quarterly, Not Seasonally Adjusted 2020-05-01 13.2 2020-06-01 11.0 2020-07-01 10.2 NROU Noncyclical Rate of Unemployment, Percent, Quarterly, Not Seasonally Adjusted 2020-08-01 8.4 2020-09-01 7.9 GDPDEF UNRATE Gross Domestic Product: Implicit Price Deflator, Index 2012-100, Quarterly, Seasonally Adjusted Unemployment Rate, Percent, Monthly, Seasonally Adjusted 2020-10-01 6.9 2020-11-01 6.7 2020-12-01 6.7 2021-01-01 6.4 2021-02-01 6.2 2021-03-01 6.0 20,500 2021-04-01 6.0 2021-05-01 5.8 20,000 2021-06-01 5.9 2021-07-01 5.4 Real GDP, billions 2012 dollar 2021-08-01 5.2 19,500 2021-09-01 4.7 2021-10-01 4.6 19,000 2021-11-01 4.2 2021-12-01 3.9 18,500 2022-01-01 4.0 GDPPOT 2022-02-01 3.8 18,000 GDPC1 2022-03-01 3.6 2022-04-01 3.6 2022-05-01 3.6 17,500 17,000 2020-01 Date