Figure 23-1
-Refer to Figure 23-1. If the economy is in equilibrium, it is at a level of aggregate expenditure given by point
A) J.
B) K.
C) L.
D) Points J, K and L all represent equilibrium.

Name: Figure 23-1 -Refer to Figure 23-1. If the economy is in equilibrium, it is at a level of aggregate expenditure given by point A) J. B) K. C) L. D) Points J, K and L all represent equilibrium.
Brand: Quizplus
Rating: 4.8 (30 reviews)

Question

Figure 23-1 
-Refer to Figure 23-1. If the economy is in equilibrium, it is at a level of aggregate expenditure given by point
A) J. 
B) K. 
C) L. 
D) Points J, K and L all represent equilibrium.

Quizplus · Accepted Answer

Point K represents the equilibrium level of aggregate expenditure where planned spending equals actual spending.

Figure 23-1 -Refer to Figure 23-1. If the Economy Is in Equilibrium