Consider Schedule #1 in the Aggregate Demand and Aggregate Supply

Multiple Choice

Consider schedule #1 in the aggregate demand and aggregate supply table given below. The equilibrium output and price level for the economy described on this schedule are:

A) $7.0 and 110, respectively.
B) $6.5 and 120, respectively.
C) $6.0 and 130, respectively.
D) $5.5 and 140, respectively.
E) $5.0 and 150, respectively.