10 The following graph shows aggregate demand and short run aggregate supply 1.) Use the line…
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Question “10 The following graph shows aggregate demand and short run aggregate supply 1.) Use the line…”
10 The following graph shows aggregate demand and short run aggregate supply 1.) Use the line drawing tool to show the effect of an unexpected decrease in the price of oil. Property label this line. 2.) Use the point drawing tool to show the new equilibrium price level and real GDP. Label this point ‘B’. Caretaly follow the instructions above, and only draw the required objects. LRAS, SRA Prevel A “ADO Re GOPY
Answer
Priu ($) LRAS. SRAS SRAS Po B a a ADO: Yo Yo The real GDP cost resulted they * Que to unexpected falls in all prices, the production in industries would still be able supply hou at the current price level. sas, “shifts at the aight to SRAS. New equilibrium shat un). occuus at A with oy, real GDP CS Scanned using CamScanner
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