a.         If the
above graph is a depiction of the state of the economy as it is
now, what would have to            
happen for there to be stagflation?

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Question: A.         If the above graph is a depiction of the state of t…
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b.           
What is used to measure the price level in the AS-AD model
above?

c.           
What does the Potential GDP curve represent and what is its
relationship to the price level?

d.           
Explain why it is possible for production to be greater than
Potential GDP.

e.           
Give three reasons that the AD curve slopes downward.

f.           
Give three theories as to why the Short Run Aggregate Supply curve
slopes upward.

g.           
Give one reason for each curve, that would cause the curve to
shift.

Question: A.         If theabove graph is a depiction of the state of t...

Show transcribed image text Section Two-Part Two (Econl2)

Section Two-Part Two (Econl2)

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