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Suppose that the macroeconomy is depicted by the table below. Short-run Aggregate aggregate Long-run aggregate Price demand supply supply level ($ trillions) ($ trillions)
Suppose that the macroeconomy is depicted by the table below. Short-run Aggregate aggregate Long-run aggregate Price demand supply supply level ($ trillions) ($ trillions) ($ trillions) 80 18 6 14 100 16 12 14 120 14 14 14 160 10 16 14 Q 180- 160- 140- LY 1.) Using the multipoint curve drawing tool, draw the aggreate demand curve and label it 'AD'. 2.) Using the multipoint curve drawing tool, draw the long-run aggregate supply and label it 'LRAS'. 3.) Using the 4-point curved line drawing tool, draw the short-run aggregate supply curve and label this curve 'SRAS'. 4.) Using the point drawing tool, indicate the equilibrium price level and the quilibrium level of real GDP and label it 'E'. Carefully follow the instructions above, and only draw the required objects. Price level 120- 100- 80- 60- 60 40+ 0 2 4 6 8 10 12 14 16 18 Real GDP ($ trillions) 20 After plotting the final point of your multipoint curve, press the Esc key on your keyboard to end the line.
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