Macroeconomics 1st Edition by Campbell McConnell,Stanley Brue,Sean Flynn

Exercise 3

Suppose that the aggregate demand and supply for a hypothetical economy are as shown below:
a. Use these sets of data to graph the aggregate demand and aggregate supply curves. What are the equilibrium price level and the equilibrium level of real output in this hypothetical economy Is the equilibrium real output also necessarily the full employment real output Explain.