6:31 PM a ccsu.blackboard.com QUESTION 4 2 points Save Answer Use the following
ID: 1112106 • Letter: 6
Question
6:31 PM a ccsu.blackboard.com QUESTION 4 2 points Save Answer Use the following chart that represents the aggregate supply and aggregate demand for Economy X to answer questions 4-6: Price Level Aggregate Demand (2000 & 2001)(in millions of$) | Aggregate SuPply 2000 in Atentate Supply 2001 ( millions of s millions of$) 90 100 110 120 130 140 11000 13000 13500 14000 5000 9500 10000 The equilibrium level of output in 2000 is (millions) and the price level is numbers, no symbols or commas and as they appear in the chart) . Fill in only QUESTION 5 2 points Save Answer In 2001 the aggregate supply curve for Economy X increased due to a fall in the cost of inputs. The new equilbrium level of output is (millions) and the new price level is QUESTION 6 2points Save Answer Between 2000 and 2001 Economy X experienced a growth rate of % and experienced %rate of inflation (round both numbers to the nearest whole numbe(Hint Remember the growth rate is the percentage change in GDP and remember that inflation can be negative·we are experiencing deflation) Click Save and Submit to save and submit. Click Save All Ansivers to sove all aresteers Save AlI AnswersExplanation / Answer
4. Equilibrium quantity is where Aggregate demand = Aggregate supply i.e. 8000 millions
Equilibrium price = $ 100
5. Equilibrium quantity = 10000 millions
Equilibrium price = $ 80
6. Growth rate = (10000 - 8000)/8000 x 100 = 2000/8000 x 100 = 25%
Rate of inflation = (80 - 100)/100 x 100 = - 20%
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.