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Task 1: Identify the macroeconomic equilibrium price level in this economy, Toskzz Identify the macroeconomic equilibrium level of real GDP in this economy. Task 3:
Task 1: Identify the macroeconomic equilibrium price level in this economy, Toskzz Identify the macroeconomic equilibrium level of real GDP in this economy. Task 3: lithe full employment level ol'resl GDP is $9 billion. can you discern whether this economy is experiencing an inationary gap or a recessionary gap? Tusk Ii: Suppose that the Federal Reserve wants to promote full employment. Should it enact contractionary or expansionmy monetary policy? Task 3: Suppose that the Federal Reserve wants to promote full employment through the money supply. Should it increase or decrease the amount of bank reserves? Explain your answer carefully
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