de MO Cc MM Th G Me Gra 10 ht B Di 00 X 17 M Inl b Ar ύ Th C G ho COr ts/5e86f5a2822dfd7782449c8e Turned in a Chapter 11 - AD/AS Model Average Price Level (6000, 60) (5000, 50) (4000, 40) (2000, 20) (1000, 10) Output (Real GDP) Chapter 11 - AD/AS... W Unit 4 Assignment .. DELL

de MO Cc MM Th G Me Gra 10 ht B Di 00 X 17 M Inl b Ar ύ Th C G ho COr ts/5e86f5a2822dfd7782449c8e Turned in a Chapter 11 - AD/AS Model Average Price Level (6000, 60) (5000, 50) (4000, 40) (2000, 20) (1000, 10) Output (Real GDP) Chapter 11 - AD/AS... W Unit 4 Assignment .. DELL

MACROECONOMICS

14th Edition

ISBN:9781337794985

Author:Baumol

Publisher:Baumol

Chapter5: An Introduction To Macroeconomics

Section: Chapter Questions

Problem 1DQ

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Question

The following table presents information on average price level and output (Real GDP) for Nickeltown in 2003. Plot the points on the graph below.
Average Price Level Output (Real GDP)
70 $3000
50 $5000
30 $7000
20 $8000
0 $10000

When these points are plotted, which curve do they represent?
Aggregate Demand/Short-Run Aggregate Supply/Long-Run Aggregate supply

de MO
Cc MM Th G
Me
Gra
10
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B
Di 00 X
17 M Inl b Ar
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Th C
G ho COr
ts/5e86f5a2822dfd7782449c8e
Turned in a
Chapter 11 - AD/AS Model
Average
Price
Level
(6000, 60)
(5000, 50)
(4000, 40)
(2000, 20)
(1000, 10)
Output (Real GDP)
Chapter 11 - AD/AS...
W Unit 4 Assignment ..
DELL

Definition Definition Total supply of goods and services in an economy at a certain price level in a specific time period.

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