AGGREGATE SUPPLY AGGREGATE DEMAND HOMEWORK AS 125 120 115 Price 110 level 105 AD2 100 AD 800 900 1,000 1,100 1,200 1,300 Real GDP (billions of dollars per year) Given the above aggregate supply and aggregate demand curves identify the following: a. full employment GDP b. percentage increase in price level from point a to point c c. portion of real GDP covered by the Keynesian portion of the AS curve d. portion of real GDP covered by intermediate portion of AS curve e. increase in real GDP by change from AD1 to AD2 f. price level at which Classical portion of AS starts g. change necessary in AS to increase real GDP to 1300 h. level at which increases in real GDP can take place without inflation

He cheyenne hotel in big sky, montana, has accumulated records of the total electrical costs of the hotel and the number of occupancy-days over the last year. an occupancy-day represents a room rented out for one day. the hotel's business is highly seasonal, with peaks occurring during the ski season and in the summer. month occupancy- days electrical costs january 1,736 $ 4,127 february 1,904 $ 4,207 march 2,356 $ 5,083 april 960 $ 2,857 may 360 $ 1,871 june 744 $ 2,696 july 2,108 $ 4,670 august 2,406 $ 5,148 september 840 $ 2,691 october 124 $ 1,588 november 720 $ 2,454 december 1,364 $ 3,529 required: 1. using the high-low method, estimate the fixed cost of electricity per month and the variable cost of electricity per occupancy-day. (do not round your intermediate calculations. round your variable cost answer to 2 decimal places and fixed cost element answer to nearest whole dollar amount) 2. what other factors other than occupancy-days are likely to affect the variation in electrical costs from month to month? (you may select more than one answer. single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer.) seasonal factors like winter or summer. systematic factors like guests, switching off fans and lights. number of days present in a month. fixed salary paid to hotel receptionist. income taxes paid on hotel income.