In the figure above, in the short-run macroeconomic equilibrium, b. there is no structural unemployment. real GDP is greater than potential GDP. real GDP equals potential GDP. d. real GDP is less than potential GDP. C.

In the figure above, in the short-run macroeconomic equilibrium, b. there is no structural unemployment. real GDP is greater than potential GDP. real GDP equals potential GDP. d. real GDP is less than potential GDP. C.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter24: The Aggregate Demand/aggregate Supply Model

Section: Chapter Questions

Problem 51CTQ: Suppose the level of structural unemployment increases. How would you illustrate the increase in...

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Answer ASAP

Price level (GDP deflator, 2005 100)
130
120
110
100
90
LAS SAS
AD
0 12.0 12.5 13.0 13.5 14.0 14.5
Real GDP (trillions of 2005 dollars)
In the figure above, in the short-run macroeconomic equilibrium,
b.
there is no structural unemployment.
real GDP is greater than potential GDP.
real GDP equals potential GDP.
C.
d. real GDP is less than potential GDP.

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