if an economy is currently in short-run equilibrium where the level of real gdp is greater than potential output, then in the long run, one will find:

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24-10-2022
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if an economy is currently in short-run equilibrium where the level of real gdp is greater than potential output, then in the long run, one will find:

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RajeevKumarBag RajeevKumarBag · Answer 1 · 2022-11-05T17:09:44+01:00

In the long run, an economy that is currently in short-run equilibrium, where real GDP is greater than potential output, will: The economy will return to its potential real GDP if nominal wages rise and the SRAS curve moves left.

When the economy is in short-term equilibrium, what happens?

An economy is in short-run harmony when the total measure of result requested is equivalent to the total measure of result provided.

In the short term, what happens to the price level and real GDP?

The Short-Run Aggregate Supply Curve (SRAS) The SRAS curve indicates that an economy's real GDP will rise as the price level rises and you move along the SRAS.

Learn more about SRAS curve here:

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