Business, 18.02.2021 01:30 brainss5

1. Assume an economy where the Long Run AS is vertical at Q= 15,000 and AD is given as P = 1000 - 0.05Q. What is the value of the aggregate price level (P)? 2. If AD increased to P = 1050 - 0.05Q what level of inflation would the economy experience?

3. Returning to 1., what would happen to the aggregate price level if a supply shock reduced As to Q = 14,500?

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1. Assume an economy where the Long Run AS is vertical at Q= 15,000 and AD is given as P = 1000 - 0....

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