Multiple Choice
If the equilibrium price level is 135 but the actual price level is 120, then
A) the quantity of real GDP demanded is less than the quantity of real GDP supplied.
B) aggregate demand will decrease to restore equilibrium.
C) aggregate demand will increase to restore equilibrium.
D) firms decrease their production because they cannot sell the output they produce.
E) the quantity of real GDP demanded is greater than the quantity of real GDP supplied.
Correct Answer:
Verified
Correct Answer:
Verified
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