0:00
This question.
00:01
I'm going to draw out the graph that we're working with.
00:06
Oops.
00:09
You know that one more time.
00:11
There we go.
00:11
Much better.
00:13
So we have real gdp on our x axis honor.
00:23
Why access? we have price level, which i'm just gonna previa as pl then we have our long run.
00:36
I would get supply curve.
00:41
Then we have, um, our 1st 1st short run aggregate supply curve.
00:53
Then we have another one, uh, worse.
00:58
No one down here.
00:59
That's us r a s to.
01:05
Then we have try that we have and aggregate demand curves here.
01:21
And that is 82 a man.
01:25
We're going to have 81 down there.
01:33
Okay, that was a lot of drawing, but we are done with our drawing now.
01:39
I just need legally thes points.
01:41
This point is point a, this is point b.
01:47
This right here is point.
01:49
See, that's most beautiful.
01:51
Lrs.
01:52
And this point right here is point d.
01:54
Okay, good.
01:55
No, um for a part.
01:58
A.
01:59
We want to know which of these points are, ah, potential long run equilibrium.
02:05
So for part a, those are point a and see any any point where the short run aggregate supply curve intersects the aggregate demand curve on the long run aggregate supply curve.
02:24
Those are potential equilibrium points.
02:27
If you're off the long run at a good supply curve, you will not stay there for a long time...