Multiple Choice
Beginning from long-run equilibrium at point E1 in Exhibit 1, the aggregate demand curve shifts to AD2 . The real GDP and price level (CPI) in short-run equilibrium will be:
A) $12 billion and 200.
B) $8 billion and 250.
C) $8 billion and 150.
D) $12 billion and 250.
Correct Answer:
Verified
Correct Answer:
Verified
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