- 6 The Graph Below Shows The Current Equilibrium In An Economy Yp Potential Output As Po Ad Y If Autonomous Consump 1 (78.43 KiB) Viewed 28 times
6. The graph below shows the current equilibrium in an economy (Yp: potential output). AS. PO AD Y If autonomous consump
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6. The graph below shows the current equilibrium in an economy (Yp: potential output). AS. PO AD Y If autonomous consump
6. The graph below shows the current equilibrium in an economy (Yp: potential output). AS. PO AD Y If autonomous consumption increases, (a) Show the SR and LR changes in the graph above. refer to Figure 11.9 in the lecture notes (b) What are the changes in output and price level from the current equilibrium to the new short-run equilibrium ? 1, or unchanged (c) What are the changes in output and price level from the current equilibrium to the new long-run equilibrium ?
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