Use the Following to Answer Questions

Multiple Choice

Use the following to answer questions .
Exhibit: Aggregate Demand and Aggregate Supply at Different Price Levels

-(Exhibit: Aggregate Demand and Aggregate Supply at Different Price Levels) The table shows the aggregate demand and short-run aggregate supply curves for an economy. The potential level of output is $7.6 trillion. What is the initial real GDP and price level?

A) Real GDP = 7.6 trillion; price level = 1.2
B) Real GDP = 7.6 trillion; price level = 2.8
C) Real GDP = 6.8 trillion; price level = 2.0
D) Real GDP = 7.8 trillion; price level = 1.0