Trumpman2495 Trumpman2495

02-06-2023
Business

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Assume the United States economy is in currently in long-run equilibrium with a balanced budget, an inflation rate of 3%, and an unemployment rate of 4%. The nominal interest rate is 5%. Draw a correctly labeled of aggregate demand, short run aggregate supply and long run aggregate supply and label: (4 pts total) i. Price level (PL1) ii. Full employment level of GDP (Yf)

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