In Japan the national GDP is 600 billion yen and Table muetsra aggregate demand and aggregate supply in the short term. Real GDP demanded real GDP supplied in the short term
Price Level
75 600 400
85 550 450
95 500 500
105 450 550
115 400 600
125 350 650
135 300 700
a. Draw a graph of the aggregate demand curve and aggregate supply curve short term
b. What is the equilibrium real GDP Short-Term and the price level?
c. Japan has a gap inflationary or recessionary gap, and what is its magnitude?