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Suppose that the​ long-run aggregate supply curve is positioned at a real GDP level of ​$15 trillion in base year​ dollars, and the​ long-run equilibrium price level​ (in index number​ form) is 108. The corresponding full employment level of nominal GDP must be ​$ nothing trillion dollars?

Respuesta :

jepessoa

Answer:

$16.2 trillion

Explanation:

If the long run equilibrium price level is 108, it means that the GDP calculated with nominal prices is 8% higher (= (108 - 100) x 100) than the GDP calculated with real prices. To calculate the full employment at nominal GDP (nominal prices) we need to multiply real GDP by 108% = $15 trillion x 108% = $16.2 trillion

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