Multiple Choice
If the equilibrium price level is 135 but the actual price level is 150,then
A) firms increase their production because they are able to sell their output at a higher than expected price.
B) the quantity of real GDP demanded is less than the quantity of real GDP supplied.
C) the quantity of real GDP demanded is greater than the quantity of real GDP supplied.
D) aggregate demand will increase to restore equilibrium.
E) aggregate demand will decrease to restore equilibrium.
Correct Answer:
Verified
Correct Answer:
Verified
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