Assume that the central bank of an economy

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Q. The subsequent relations describe the supply also demand for posters.
QD = 65,000 - 10,000P
QS = -35,000 + 15,000P
Where Q is the quantity also P is the cost of a poster, in dollars.
a. Complete the subsequent table.
COST QS QD SURPLUS OR
SHORTAGE
$6.00
5.00
4.00
3.00
2.00
1.00
b. Illustrate what is the equilibrium cost?

Q. The graph below shows the long-run Phillips curve (LRPC) also two short-run Phillips curves (SRPC1 also SRPC2). Assume that the central bank of an economy contracts the money supply, shifting the SRPC curve from SRPC1 to SRPC2.

Reference no: EM1321480

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