Refer to Table 10.3.1, which shows the aggregate demand and aggregate ...

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Table 10.3.1

Refer to Table 10.3.1, which shows the aggregate demand and aggregate supply schedules. If potential GDP is $600 billion, which of the following outcomes describes this economy?

Real GDP is below full-employment equilibrium, and money wage rates will fall.

0%✨

Real GDP is below full-employment equilibrium, and money wage rates will rise.

0%

Real GDP is at long-run equilibrium, so money wage rates will not change.

100%

Real GDP is above full-employment equilibrium, and money wage rates will fall.

0%

Real GDP is above full-employment equilibrium, and money wage rates will rise.

0%

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