The figure above shows an economy aggregate demand curve and aggregate supply curves.
-Suppose the shift from AD₀ to AD₁ and from AS₀ to AS₁ is the result of fiscal policy.If the effect on aggregate demand was larger than the figure above shows, as a result the price level would be ________ 110 and real GDP would be ________ $14 trillion.
Definitions:
Potato Salad
A dish typically made from boiled potatoes and a variety of other ingredients, including mayonnaise, herbs, vegetables, and sometimes meat.
Stomach
An organ in the digestive system that secretes acid and enzymes to digest food before it moves into the small intestine.
Conditioned Stimulus
A formerly neutral signal that, once linked with an unconditioned stimulus, ultimately leads to eliciting a conditioned response.
Unlearned Reaction
An instinctive response to a stimulus that does not require previous experience or learning.
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