Identify the equilibrium point and price level illustrate, Econometrics

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Identify the equilibrium point and price level illustrate

In the diagram use aggregate demand and short-run aggregate supply curves to show an economy at equilibrium at its potential output of $9.5 trillion. Identify the equilibrium point and price level. Illustrate how fiscal policy can create an expansionary gap of $0.5 trillion.

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Econometrics: Identify the equilibrium point and price level illustrate

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Econometrics: Identify the equilibrium point and price level illustrate

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