plot the aggregate demand, Macroeconomics

The economy of Mainland has the following aggregate and aggregate supply schedules:

                              Real GDP Demanded                        Real GDP Supplied in the Short Run


Price Level

     90                                  450                                                        350

   100                                  400                                                        400

   110                                  350                                                        450

   120                                  300                                                        500

   130                                  250                                                        550

   140                                  200                                                        550

(a)   Plot the aggregate demand and short run aggregate supply curves.

(b)   Determine Mainland's equilibrium or actual GDP and price level.

(c)   Mainland's long run GDP is $500 billion. Plot the long run aggregate supply curve on the same graph as Part (a) above.

(d)   Is Mainland at or above or below its natural rate of unemployment? Discuss.

(e)   Determine the physical limit of Mainland's economy.

Posted Date: 3/12/2013 5:19:01 AM | Location : United States

Related Discussions:- plot the aggregate demand, Assignment Help, Ask Question on plot the aggregate demand, Get Answer, Expert's Help, plot the aggregate demand Discussions

Write discussion on plot the aggregate demand
Your posts are moderated
Related Questions
ORDINAL THEORY: INDIFFERENCE CURVE APPROACH In indifference curve approach consumer is assumed to be rational, so that consumer's objective is to maximise her utility by choos

Assume a competitive industry with two hospitals. The hospitals compete in price (such that P = MC ), face the inverse demand curve =10 - Q , and have a constant marginal cost of

What is Bolivia''s growth in 1985?

Give an example of a current event opportunity cost that includes graphs

Assume that Jimmy Cash has $2100 in his checking account and uses his checking card to withdraw $210 from his ATM machine. By what amount did M1 change from this individual transac

#discuss the arguments for and against the use of trade barries in anay counrty

Explain the production function and discuss why it is important? Explain diminishing returns to an input and give an example? Discuss why a firm's cost curve might be different in

construct the supply and demand curves for rental housing, indicating equilibrium rent and quantity. Show the effects on this market( i.e., on supply, demand, equilibrium rent and

Comparative if Person can make 15 wristbands and hour and 3 potholders. What is the comparative advantage? If same person works 20 hours a week graph the possible combinations sh

The demand for nominal balances rises with the price level. At the similar time inflation causes the real demand for money to fall. Describe how these two assertions can be both co