Given the following aggregate demand and aggregate supply schedules,determine the equilibrium level of prices and output. Aggregate Demand
Aggregate Supply
(quantity demanded
(quantity supplied
In billions of dollars)
Price Level
In billions of dollars)
$ 100
150
$1,200
200
125
1,000
400
100
800
600
75
600
800
50
400
1,000
25
200
A) equilibrium output $1,000 and equilibrium price level 25
B) equilibrium output $800 and equilibrium price level 50
C) equilibrium output $200 and equilibrium price level 125
D) equilibrium output $400 and equilibrium price level 25
E) equilibrium output $600 and equilibrium price level 75
Correct Answer:
Verified
Q75: The aggregate supply curve has
A)a negative slope
B)a
Q76: Exhibit 5-1 Q77: For a given aggregate supply curve,the price Q78: During the Great Depression, Q79: When output _,employment is expected to _. Q81: According to Keynes,the policy of incurring budget Unlock this Answer For Free Now! View this answer and more for free by performing one of the following actions Scan the QR code to install the App and get 2 free unlocks Unlock quizzes for free by uploading documents
A)unemployment and prices increased
A)rises;
