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Solve please CENGAGE | MINDTAP Q Sea Aplia Homework: Aggregate Supply (? 300 250 SRAS 60 SRAS 150 200 PRICE LEVEL 150 100 50 9

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CENGAGE | MINDTAP Q Sea Aplia Homework: Aggregate Supply (? 300 250 SRAS 60 SRAS 150 200 PRICE LEVEL 150 100 50 9 12 15 REAL GDP (Trillions of dollars) Interpret the change you drew on the previous graph by filling in the blanks in the following paragraph: The lower-than-expected price level causes firms to earn _ profit than they expected on each unit of output they produce, and, therefore, they their production level. At the same time, the real value of wages and other resource prices are than workers and firms expected when they signed long-term contracts. As a result, the economy as a whole produces at a level its potential output, and the unemployment rate is than its natural rate

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