Figure 15-4

-Refer to Figure 15-4.In the figure above,AD₁,LRAS₁ and SRAS₁ denote AD,LRAS and SRAS in year 1,while AD₂,LRAS₂ and SRAS₂ denote AD,LRAS and SRAS in year 2.Given the economy is at point A in year 1,what is the actual growth rate in GDP in year 2?

Question

Figure 15-4
 
-Refer to Figure 15-4.In the figure above,AD₁,LRAS₁ and SRAS₁ denote AD,LRAS and SRAS in year 1,while AD₂,LRAS₂ and SRAS₂ denote AD,LRAS and SRAS in year 2.Given the economy is at point A in year 1,what is the actual growth rate in GDP in year 2?

Quizplus · Accepted Answer

The Answer of Figure 15-4
 
-Refer to Figure 15-4.In the figure above,AD₁,LRAS₁ and SRAS₁ denote AD,LRAS and SRAS in year 1,while AD₂,LRAS₂ and SRAS₂ denote AD,LRAS and SRAS in year 2.Given the economy is at point A in year 1,what is the actual growth rate in GDP in year 2?

Figure 15-4 -Refer to Figure 15-4.In the Figure Above,AD₁,LRAS₁ and SRAS₁ Denote