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Find an expression for the aggregate demand curve

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Reference no: EM132210345

Question: Suppose a closed economy:

C = 200 + 0.60(Y-T)

I = 100- 10R

G = 250

T = 200

M = 2000

(M/P)d = 2Y - 100R

SRAS: P = 4

LRAS : Y = 900

1- Find an expression for the IS curve

2- Find an expression for the LM curve

3- Find short run equilibrium level of output, price, and real interest rate.

4- Find an expression for the Aggregate Demand Curve (AD).

5- Find the long run equilibrium level of output, price, and real interest rate.

6- Draw your results from parts 3, 4 and 5 using the IS-LM model and the AD-AS model and explain in your own words the expectation transition if any. If your results were the same, then explain its meaning.

Reference no: EM132210345

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