Word File Edit View v Insert Format Tools Table Window Help 52% 2 Q Sun Dec 5 9:32 PM AutoSave ON 7 8 9 . C G ... w Final Exam Macro Fall 2021 (students) - Saving... Q Home Insert Draw Design Layout References Mailings Review View Tell me Share Comments Times New... 11 AA Aav a= v AL AaBbCcDdEe AaBbCcDdEe AaBbCcDo AaBbCcDdEE AaBb( AaBbCcDdEE Paste Normal No Spacing Heading 1 Heading 2 Title Subtitle Styles 3 E Dictate Editor BIU ab X2 Av LAV E Pane Short Answer Questions 5 X 10 = 50 2. Does the graph below illustrate a recessionary or an inflationary gap? What do potential GDP and real GDP equal? What is an appropriate fiscal policy to restore real GDP to potential real GDP? 8 - 130 100 Price level (GDP deflat 90 X 0 14.5 15.0 15.5 16.0 16.5 17.0 Real GDP (trillions of 2009 dollars) 3. An economy produces 1,000 units of output (so Q = 1,000 with a price level of $1 (P = $1) and the money supply (M) is $500, What is the velocity of money? Velocity of money = 2 4. The United States spends billions of dollars subsidizing the export of goods from the United States. Does this help or hurt the United States? Why or why not? [X English (United States) Focus - + 110% Page 12 of 14 3221 words 3,085 5 tv DOCX DOCX