Macroeconomics 20th Edition by Campbell McConnell,Stanley Brue,Sean Flynn

Exercise 30

At price level 92:
A) a GDP surplus of $12 billion occurs that drives the price level up to 100.
B) a GDP shortage of $12 billion occurs that drives the price level up to 100.
C) the aggregate amount of real GDP demanded is less than the aggregate amount of real GDP supplied.
D) the economy is operating beyond its capacity to produce.