Grantham University Economic Cycle Curves Discussion

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Economics

Grantham University

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Economic Cycle Curves

Construct the AD, SRAS, and LRAS curves for an economy experiencing (a) full employment, (b) an economic boom, and (c) a recession.What will happen in each case if it's only temporary?What will happen in each case if it's permanent?

Please provide original work. No plagarizing.

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Explanation & Answer

Attached.

Running head: ECONOMIC CYCLES CURVES

Economic Cycle Curves
Name
Institution Affiliation
Date

ECONOMIC CYCLES CURVES
2

Economic Cycle Curves
1. Full Employment
SRAS1

GDP price

a
AD1
LRAS1

GDP FO
At this point, the LRAS output will not change and represent the output at the
intersection of the SRAS ...


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