$$\begin{array} { c c c }
\hline \begin{array} { c }
\text { Aggregate demand } \
\text { (quantity demanded, } \
\text { in billions of dollars) }
\end{array} & \text { Price level } & \begin{array} { c }
\text { Aggregate supply } \
\text { (quantity supplied, } \
\text { in billions of dollars) }
\end{array} \
\hline \$ 100 & 150 & \$ 1,200 \
200 & 125 & 1,000 \
400 & 100 & 800 \
600 & 75 & 600 \
800 & 50 & 400 \
1,000 & 25 & 200 \
\hline
\end{array}$$
-Refer to the aggregate demand and aggregate supply schedules in the exhibit.What is the equilibrium price level?
A) 25
B) 50
C) 75
D) 100

Question

$$\begin{array} { c c c } 
\hline \begin{array} { c } 
\text { Aggregate demand } \
\text { (quantity demanded, } \
\text { in billions of dollars) }
\end{array} & \text { Price level } & \begin{array} { c } 
\text { Aggregate supply } \
\text { (quantity supplied, } \
\text { in billions of dollars) }
\end{array} \
\hline \$ 100 & 150 & \$ 1,200 \
200 & 125 & 1,000 \
400 & 100 & 800 \
600 & 75 & 600 \
800 & 50 & 400 \
1,000 & 25 & 200 \
\hline
\end{array}$$
-Refer to the aggregate demand and aggregate supply schedules in the exhibit.What is the equilibrium price level?  
A) 25 
B) 50 
C) 75 
D) 100

Quizplus · Accepted Answer

The equilibrium price level is where the quantity demanded equals the quantity supplied. From the table, this occurs at a price level of 75, where both the aggregate demand and aggregate supply are 600 billion dollars.

-Refer to the Aggregate Demand and Aggregate Supply Schedules in }