{
  "id": "inflationary-gap-keynesian",
  "name": "Inflationary gap — Keynesian",
  "unit": "macro",
  "unitName": "Unit 3 · Macroeconomics",
  "topic": "AD/AS model",
  "hl": false,
  "description": "AD rises beyond the level needed for full employment; output cannot rise past Yfe so the excess demand only raises the price level.",
  "keywords": [
    "inflationary gap",
    "Keynesian",
    "full employment",
    "demand-pull inflation",
    "Yfe",
    "excess demand"
  ],
  "schemaUrl": "https://graphs.lectere.com/api/v1/templates/inflationary-gap-keynesian",
  "previewUrl": "https://graphs.lectere.com/thumbs/inflationary-gap-keynesian.svg",
  "editorUrl": "https://graphs.lectere.com/graph/inflationary-gap-keynesian/",
  "params": [
    {
      "key": "gap",
      "label": "Show the inflationary gap",
      "default": true,
      "type": "boolean"
    },
    {
      "key": "size",
      "label": "Excess demand",
      "default": 1.8,
      "group": "Shape",
      "type": "number",
      "min": 0.8,
      "max": 2.4,
      "step": 0.1
    }
  ],
  "defaults": {
    "gap": true,
    "size": 1.8
  },
  "panels": [
    {
      "id": "main",
      "title": null,
      "xLabel": "Real GDP",
      "yLabel": "Average price level",
      "xRange": [
        0,
        10
      ],
      "yRange": [
        0,
        10
      ],
      "axisKeys": {
        "x": "main:x",
        "y": "main:y"
      }
    }
  ],
  "labels": [
    {
      "key": "main:y",
      "default": "Average price level",
      "hint": "Vertical axis",
      "panel": "main"
    },
    {
      "key": "main:x",
      "default": "Real GDP",
      "hint": "Horizontal axis",
      "panel": "main"
    },
    {
      "key": "main.as",
      "default": "AS",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.ad1",
      "default": "AD_1",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.ad2",
      "default": "AD_2",
      "hint": "Curve",
      "panel": "main"
    },
    {
      "key": "main.e1:y",
      "default": "PL_1",
      "hint": "Vertical-axis value",
      "panel": "main"
    },
    {
      "key": "main.e1:x",
      "default": "Y_{fe}",
      "hint": "Horizontal-axis value",
      "panel": "main"
    },
    {
      "key": "main.e2:y",
      "default": "PL_2",
      "hint": "Vertical-axis value",
      "panel": "main"
    },
    {
      "key": "main.gap",
      "default": "inflationary gap",
      "hint": "Arrow / line",
      "panel": "main"
    }
  ],
  "elements": [
    {
      "key": "main.as",
      "kind": "curve",
      "label": "AS"
    },
    {
      "key": "main.ad1",
      "kind": "curve",
      "label": "AD_1"
    },
    {
      "key": "main.ad2",
      "kind": "curve",
      "label": "AD_2"
    },
    {
      "key": "main.shift",
      "kind": "line"
    },
    {
      "key": "main.e1",
      "kind": "point"
    },
    {
      "key": "main.e2",
      "kind": "point"
    },
    {
      "key": "main.pl1-ext",
      "kind": "line"
    },
    {
      "key": "main.target",
      "kind": "point"
    },
    {
      "key": "main.gap",
      "kind": "line",
      "label": "inflationary gap"
    }
  ],
  "stats": null,
  "example": {
    "template": "inflationary-gap-keynesian",
    "params": {
      "gap": true,
      "size": 1.8
    }
  }
}