For the aggregate demand and aggregate supply listed in schedule #2 of the table given below,the equilibrium output level and price level are:
Table 10.1
Quantity of
Aggregate Output
Demanded

Price
Level
Quantity of
Aggregate Output Supplied
#1
#2
#3
$7)0
110
$5)0
$6)0
$4)0
6)5
120
5)5
6)5
4)5
6)0
130
6)0
7)0
5)0
5)5
140
6)5
7)5
5)5
5)0
150
7)0
8)0
6)0
A)$7.0 and 110,respectively.
B)$6.5 and 120,respectively.
C)$6.0 and 130,respectively.
D)$5.5 and 140,respectively.
E)$5.0 and 150,respectively.

Question

For the aggregate demand and aggregate supply listed in schedule #2 of the table given below,the equilibrium output level and price level are: ​
Table 10.1​
Quantity of
Aggregate Output
Demanded
​
Price
Level
Quantity of
Aggregate Output Supplied
#1
#2
#3
$7)0
110
$5)0
$6)0
$4)0
6)5
120
5)5
6)5
4)5
6)0
130
6)0
7)0
5)0
5)5
140
6)5
7)5
5)5
5)0
150
7)0
8)0
6)0
A)$7.0 and 110,respectively.
B)$6.5 and 120,respectively.
C)$6.0 and 130,respectively.
D)$5.5 and 140,respectively.
E)$5.0 and 150,respectively.

Quizplus · Accepted Answer

At equilibrium, quantity of aggregate output demanded = quantity of aggregate output supplied. 
Looking at the table, we can see that at a price level of $6.5, the quantity demanded is 120 and the quantity supplied is also 120, hence the equilibrium output level and price level are 120 and $6.5, respectively.

For the Aggregate Demand and Aggregate Supply Listed in Schedule