#1
hey guys i'm stuck for an assignment due tomorrow, it's macroeconomics 203,

An economy has the following aggregate demand and short-run aggregate supply conditions:
AD: Y = 1000 – 30P
AS: Y = 500P – 6950
(a) Plot the AD and AS functions in a diagram.

(b) What are the equilibrium values of real GDP and the price level?
(c) If potential output Yp = 700, what type of output gap, if any, do you observe? How much is
the output gap?

Question 2 [total="21 Marks"]
Consider a numerical example of an AD curve when the central bank sets the money supply:
AE = 100 + 0.5Y + 0.2(M/P)
(a) Suppose the nominal money supply is fixed at M = 500. Find and write the AE function for
each of the price levels P = 1.0, 2.0, and 2.5.
(b) Find the equilibrium level of real GDP corresponding to each of the above price levels, and
plot these combinations of P and Y as an AD curve in a diagram.

any help would be awesome. thanks
-Chris

also I'll put anything you want in my sig if you help me
#2
Its hilarious that I have a macroeconomics assignment due on friday on this exact stuff.
Real eyes realise real lies.
#3
Quote by chri5
hey guys i'm stuck for an assignment due tomorrow, it's macroeconomics 203,

An economy has the following aggregate demand and short-run aggregate supply conditions:
AD: Y = 1000 – 30P
AS: Y = 500P – 6950
(a) Plot the AD and AS functions in a diagram.

(b) What are the equilibrium values of real GDP and the price level?
(c) If potential output Yp = 700, what type of output gap, if any, do you observe? How much is
the output gap?

Question 2 [total="21 Marks"]
Consider a numerical example of an AD curve when the central bank sets the money supply:
AE = 100 + 0.5Y + 0.2(M/P)
(a) Suppose the nominal money supply is fixed at M = 500. Find and write the AE function for
each of the price levels P = 1.0, 2.0, and 2.5.
(b) Find the equilibrium level of real GDP corresponding to each of the above price levels, and
plot these combinations of P and Y as an AD curve in a diagram.

any help would be awesome. thanks
-Chris

also I'll put anything you want in my sig if you help me


jesus dude thats more complex than the stuff i did for 3rd year at uni!
#4
HAHAHAHAHAHAHAH at you sir

I had to do an Economics subject at University and we had a project on Macroeconomics. It is hell, and i'm sorry but i cant remember any of it.

Good luck to you sir, lots and lots of good luck
#5
Goddang I really hate macroeconomics. Micro I'm fine with, but macro is horrible! Sorry, can't help ya
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