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Question s [To points] Suppose research has uncovered the following aggregate demand and supply functions for an economy: AD: P = 70 - 0.05Y AS:

Question s [To points] Suppose research has uncovered the following aggregate demand and supply functions for an economy: AD: P = 70 - 0.05Y AS: P = 10 + 0.1Y a) Draw the AD and AS functions to illustrate the short-run equilibrium real GDP and price. 270 Your Graph 270- Correct Graph 240 210 180+ Price level 150 120 +ADZ Price level 90 JADI 60 60-ADS 30 30 AS 0 500 1000 1500 2000 2500 0 500 1000 1500 2000 2500 Real GDP Real GDP

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