(a)
Identify the main features of the U.S economy in the second quarter of 2017.
(b)
Identify if the U.S. economy has a recessionary gap of inflationary gap in 2017.
(c)
Illustrate the Figure to show the changes in aggregate demand and
(d)
Illustrate Figure using the aggregate demand and aggregate supply model to show the changes in aggregate demand and aggregate supply when economy resorted its full employment.
(e)
Illustrate Figure using the aggregate demand and aggregate supply model to show the changes in aggregate demand and aggregate supply when the government increased expenditure on goods and services to restore its full employment.
(f)
Illustrate Figure using the aggregate demand and aggregate supply model to show the changes in aggregate demand and aggregate supply in short-run and long-run when the economy moved into an inflationary gap.
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Macroeconomics
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- Economics (MindTap Course List)EconomicsISBN:9781337617383Author:Roger A. ArnoldPublisher:Cengage Learning