題組內容

四、 (30%)

Price level Real GDP demanded (billions of 2005 dollars) Real GDP supplied (billions of 2005 dollars)
90 450 150
100 400 250
110 350 350
120 300 450
130 250 550

The table above shows Yellowland's economy aggregate demand and supply schedules. Yellowland's potential GDP is $300 billion.

4. Is Yellowland's short-run macroeconomic equilibrium a full-employment equilibrium, below full-employment equilibrium, or above full-employment equilibrium? What is the recessionary gap (if any)? What is the inflationary gap (if any)?(5%)