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Part 1Construct the AD, SRAS, and LRAS curves for an economy experiencing (a) full employment, (b) an economic boom, and (c) a recession. What will happen in each case if it’s only temporary? What will happen in each case if it’s permanent?Part 2Use the data chart to answer the questions below.Questions:1.Using the data above, GDP is equal to ______.2.Using the data above, Net Exports is equal to _.3.Using the data above, PCE (Personal Consumption Expenditure) is equal to _.4.If the dollar amounts of the items above are the nominal amounts in year 2017, and the quantities of units are identical in years 2010 and 2017, but prices in 2010 were 20% less than 2017, Real GDP in 2017 using 2010 as the base year is equal to ___.
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Statistical Learning and Data Mining
Semester 2, 2020
Project: Airbnb Pricing Analytics
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