Answer Economic Questions Using Graph

Mar 2nd, 2014
Anonymous
Category:
Accounting
Price: $25 USD

Question description

graph

a.          If the above graph is a depiction of the state of the economy as it is now, what would have to             happen for there to be stagflation?

 

 

b.            What is used to measure the price level in the AS-AD model above?

 

 

c.            What does the Potential GDP curve represent and what is its relationship to the price level?

 

 

 

 

 

 

 

 

d.            Explain why it is possible for production to be greater than Potential GDP.

 

 

 

 

 

 

e.            Give three reasons that the AD curve slopes downward.

 

 

 

 

f.            Give three theories as to why the Short Run Aggregate Supply curve slopes upward.

 

 

 

 

g.            Give one reason for each curve, that would cause the curve to shift.

Tutor Answer

(Top Tutor) Studypool Tutor
School: UIUC
PREMIUM TUTOR

Studypool has helped 1,244,100 students
Ask your homework questions. Receive quality answers!

Type your question here (or upload an image)

1831 tutors are online

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors