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IE 11-1 ... AS/AD Model – Assume this economy has now moved from Year 3 back to Year 2 as a result of too much "monetary contraction" by the FED. With the Price Level having fallen to $1.90 and employment down to _______ million, the Nominal Production GDP will be only $3800 billion. In the PPF Model the economy will be at Point _________ ..

Respuesta :

aaregbe

Answer:

110 million. Point U.

Explanation:

This economic system is referred to as a depression and it is a downturn that has occurred over a long period of time. It is a sustained downturn that is more worse than a recession. This normally affects the economic activities. In the economic system above, the employment decreased to 10 million while the economic system is at Point U.

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