QUESTION 6 Price Level Pa AD₁ 0 AD₂ OP2 and Q₂ OP₁ and Q Q₂ Q₂ Refer to the above graph. Assume that the economy is in a

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Question 6 Price Level Pa Ad 0 Ad Op2 And Q Op And Q Q Q Refer To The Above Graph Assume That The Economy Is In A 1 (20.53 KiB) Viewed 9 times

QUESTION 6 Price Level Pa AD₁ 0 AD₂ OP2 and Q₂ OP₁ and Q Q₂ Q₂ Refer to the above graph. Assume that the economy is in a recession with a price level of P2 and output level Q4. The government then adopts an expansionary fiscal policy to shift the aggregate demand curve. What will be the most likely new equilibrium price level and output? OP2 and Q4 O P₁ and Q₁ AS Q₂ Q₁ Real GDP 10 points