1.) Use the line drawing tool to show the effects of a positive aggregate demand shock that might result from consumers becoming more optimistic. Properly label this line. Price Level, P LRAS' 2.) Use the point drawing tool to identify the new short run equilibrium. Label this point 'B'. SRAS1 `AD1 Output, Y

1.) Use the line drawing tool to show the effects of a positive aggregate demand shock that might result from consumers becoming more optimistic. Properly label this line. Price Level, P LRAS' 2.) Use the point drawing tool to identify the new short run equilibrium. Label this point 'B'. SRAS1 `AD1 Output, Y

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter33: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 4CQQ

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