Use the figure below to answer the following questions.
Figure 28.1.3
-Refer to Figure 28.1.3.Assume that the figure illustrates an economy initially in equilibrium at the intersection of the SAS0 curve and the AD0 curve.If the aggregate demand curve is expected to remain at AD0 but shifts to AD1,the new equilibrium real GDP is ________ and the new equilibrium price level is ________.
Definitions:
Options
Financial instruments that give the holder the right, but not the obligation, to buy or sell an asset at a predetermined price within a set time period.
Interest
The charge for borrowing money, typically expressed as an annual percentage of the loan amount, or the income earned from lending money.
Account
A record or statement that tracks financial transactions and the financial position of an individual, company, or other entity.
Balance
The equilibrium state where different elements are in the correct proportions or positions to create harmony or stability.
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