Advanced Placement (AP), 03.12.2020 06:10 unknowntay04

Canada is an open economy that is currently in a recessionary output gap. Draw a correctly labeled graph of the long-run aggregate supply, short-run aggregate supply, and aggregate demand curves, and show each of the following. i. The current equilibrium real output and price level, labeled as Y1 and PL1, respectively

ii. Full-employment output, labeled Yf

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