Arlynborrali2443 Arlynborrali2443

11-02-2020
Business

contestada

Suppose that the long-run aggregate supply curve is positioned at a real GDP level of $15 trillion in base year dollars, and the long-run equilibrium price level (in index number form) is 108. The corresponding full employment level of nominal GDP must be $ nothing trillion dollars?

Respuesta :

jepessoa jepessoa

12-02-2020

Answer:

$16.2 trillion

Explanation:

If the long run equilibrium price level is 108, it means that the GDP calculated with nominal prices is 8% higher (= (108 - 100) x 100) than the GDP calculated with real prices. To calculate the full employment at nominal GDP (nominal prices) we need to multiply real GDP by 108% = $15 trillion x 108% = $16.2 trillion

Answer Link

Otras preguntas

Help asap. !!!!!!!!!!!!!

some places such as caves and sinkholes have lower elevations than surrounding areas infer how a sink might be shown on a topographic map

A student was given a solid containing a mixture of nitrate salts. The sample completely dissolved in water, and upon addition of dilute HCl, no precipitate for

Which one of the following statements is TRUE? A. Natural selection works on variation already present in a population. B. Nat

The account “Salaries Expense” began with a zero balance and then had the following changes: increase of $450, decrease of $175, increase of $600, and increase

If Vickers Company issues 5,000 shares of $5 par value common stock for $175,000, A. Paid-In Capital in Excess of Par will be credited for $150,000. B. Common S

Whenever an employer discharges an employee in violation of an employment contract or a law protecting employees, the employee may sue and bring an action for _

Need the awnser to this question please awnser

3. The music on a CD is created using a sampling rate of 44,000 measurements per second. Each measurement is stored as a number that represents a specific volta

Based on the following data for the current year, what is the number of days' sales in inventory? Net sales on account during year $476,874 Cost of goods sold d