-Refer to Figure 15-16 above.Short run macro equilibrium occurs at a real GDP of
A) $8.4 trillion and a price level of 110.
B) $8.4 trillion and a price level of 130.
C) $8.7 trillion and a price level of 150.
D) $8.1 trillion and a price level of 110.
E) $8.1 trillion and a price level of 150.

Question

-Refer to Figure 15-16 above.Short run macro equilibrium occurs at a real GDP of
A) $8.4 trillion and a price level of 110. 
B) $8.4 trillion and a price level of 130. 
C) $8.7 trillion and a price level of 150. 
D) $8.1 trillion and a price level of 110. 
E) $8.1 trillion and a price level of 150.

Quizplus · Accepted Answer

In the short run, macroeconomic equilibrium is determined where aggregate demand equals aggregate supply. The given choice B indicates a real GDP of $8.4 trillion and a price level of 130, which is likely the point where these curves intersect in the figure.

-Refer to Figure 15-16 Above