The long run equilibrium price level however remains


Suppose that the full employment level of nominal GDP rises in one year from $16.8 to $18.0 trillion. The long run equilibrium price level, however, remains unchanged at 120. By how much (in real dollars) has the long run aggregate supply curve shifted to the right from one year to the next? Round your answer to two decimal places.

Solution Preview :

Prepared by a verified Expert
Business Economics: The long run equilibrium price level however remains
Reference No:- TGS02384887

Now Priced at $10 (50% Discount)

Recommended (95%)

Rated (4.7/5)