Saturday
October 25, 2014

Homework Help: Macroeconomics

Posted by Amanda on Wednesday, October 24, 2012 at 1:40pm.

Cannot attach graph!

a. If the actual price level exceeds the expected price level reflected in long-term contracts, real GDP equals _______ and the actual price level equals _______ in the short run.
b. The situation described in part (a) results in a(n) _______ gap equal to _______.
c. If the actual price level is lower than the expected price level reflected in long-term contracts, real GDP equals _______ and the actual price level equals _______ in the short run.
d. The situation described in part (c) results in a(n) _______ gap equal to _______.
e. If the actual price level equals the expected price level reflected in long-term contracts, real GDP equals _______ and the actual price level equals _______ in the short run.
f. The situation described in part (e) results in a(n) _______ gap equal to _______.

This what I have so far.....
a. 14.2 trill, 130
b. expansionary, 0.2 trill
c. 13.7 trill, 110
d. recessionary, 0.3 trill
e. 14.0 trill, 120
f. ??, ??

Answer this Question

First Name:
School Subject:
Answer:

Related Questions

Macroeconomics - a. If the actual price level exceeds the expected price level ...
Economics - 3. Starting from short-run equilibrium, the following occurs: Labor ...
Economics - 3. Starting from short-run equilibrium, the following occurs: Labor ...
economics - At an initial point on the aggregate demand curve, the price level ...
Economics - 1. What effect would a decrease in consumer savings have on the ...
Macroeconomics - Consider the following data: The money supply in $1 trillion, ...
Macroeconomics - suppose that this year's money supply is $500b, nominal gdp is...
Economics - 3. Starting from short-run equilibrium, the following occurs: Labor ...
economics - am completely stuck on these three questions. I have read my ...
economics - I am completely stuck on these two questions. I have read my chapter...

Search
Members