Please draw carefully and explanation otherwise o give downvoteNote:-Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism.Answer completely and accurate answer.Rest assured, you will receive an upvote if the answer is accurate. The table gives an economy's aggregate demand, short-run aggregate supply, and long-run aggregatesupply schedules.140-Price level (GDP deflator, 2012-100)Pricelevel(GDPdeflator, 2009-100)Real GDPReal GDP supplieddemanded in short runReal GDPsuppliedin long run(billions of 2012 dollars)100700200300110600350300120500500300130400650300Draw the LAS curve, the SAS curve and the AD curve. Label the curves.Draw a point at the short-run macroeconomic equilibrium.Draw a horizontal arrow at the equilibrium price that shows the output gap.What type of output gap does the graph show?The graph showsOA. no outputOB. an inflationaryOC. a recessionarygap.4130-120-110100-90+200400600800Real GDP (billions of 2012 dollars)>>> Draw only the objects specified in the question.G

Long run aggregate supply is total supply of goods and services in an economy at a certain price…

The table gives an economy's aggregate demand, short-run aggregate supply, and long-run aggregate supply schedules. Real GDP supplied Price level (GDP Real GDP Real GDP supplied demanded in short run in long run deflator, 2009-100) (billions of 2012 dollars) 100 700 200 300 110 600 350 300 120 500 500 300 130 400 650 300 140 130- 120- Price level (GDP deflator, 2012-100) Draw the LAS curve, the SAS curve and the AD curve. Label the curves. Draw a point at the short-run macroeconomic equilibrium. Draw a horizontal arrow at the equilibrium price that shows the output gap. What type of output gap does the graph show? The graph shows OA. no output B. an inflationary OC. a recessionary gap 110- 100- 90- 0 200 400 600 Real GDP (billions of 2012 dollars) 800 රර ත >>> Draw only the objects specified in the question.

The table gives an economy's aggregate demand, short-run aggregate supply, and long-run aggregate supply schedules. Real GDP supplied Price level (GDP Real GDP Real GDP supplied demanded in short run in long run deflator, 2009-100) (billions of 2012 dollars) 100 700 200 300 110 600 350 300 120 500 500 300 130 400 650 300 140 130- 120- Price level (GDP deflator, 2012-100) Draw the LAS curve, the SAS curve and the AD curve. Label the curves. Draw a point at the short-run macroeconomic equilibrium. Draw a horizontal arrow at the equilibrium price that shows the output gap. What type of output gap does the graph show? The graph shows OA. no output B. an inflationary OC. a recessionary gap 110- 100- 90- 0 200 400 600 Real GDP (billions of 2012 dollars) 800 රර ත >>> Draw only the objects specified in the question.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 10SCQ: Explain briefly whether each of the following would cause GDP to overstate or understate the degree...

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