(A)Draw an Aggregate Production Curve and Explain Why You Have

question 5

Essay

(a)Draw an aggregate production curve and explain why you have drawn it as you have.What is its slope?
(b)Draw the aggregate expenditures curve that corresponds to the expenditures function:
E = $2,000 + 0.6Y.Explain why you have drawn it as you have.What is its slope?
(c)Label equilibrium income and explain why income levels above and below are points of disequilibrium.

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