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Question 87

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Use the following to answer questions.
Exhibit: The Aggregate Demand/Aggregate Supply Model 1 Use the following to answer questions. Exhibit: The Aggregate Demand/Aggregate Supply Model 1 -(Exhibit: The Aggregate Demand/Aggregate Supply Model 1) What are the prevailing price level and the output level in the economy? A) Price level = P<sub>1</sub>; real GDP = Y<sub>p</sub> B) Price level = P<sub>1</sub>; real GDP = Y<sub>1</sub> C) Price level = P<sub>2</sub>; real GDP = Y<sub>2</sub> D) Price level = P<sub>3</sub>; real GDP = Y<sub>p</sub>
-(Exhibit: The Aggregate Demand/Aggregate Supply Model 1) What are the prevailing price level and the output level in the economy?


A) Price level = P1; real GDP = Yp
B) Price level = P1; real GDP = Y1
C) Price level = P2; real GDP = Y2
D) Price level = P3; real GDP = Yp

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