Solved

The Table Gives the Aggregate Demand and Aggregate Supply Schedules

Question 137

Multiple Choice

 Price level  (GDP deflator)   Real GDP demanded  (trillions of 2005  dollars)   Real GDP supplied  (trillions of 2005  dollars)  80102909410086110771206813049\begin{array} { c c c } \begin{array} { c } \text { Price level } \\\text { (GDP deflator) }\end{array} & \begin{array} { c } \text { Real GDP demanded } \\\text { (trillions of 2005 } \\\text { dollars) }\end{array} & \begin{array} { c } \text { Real GDP supplied } \\\text { (trillions of 2005 } \\\text { dollars) }\end{array} \\\hline 80 & 10 & 2 \\90 & 9 & 4 \\100 & 8 & 6 \\110 & 7 & 7 \\120 & 6 & 8 \\130 & 4 & 9 \\\hline\end{array}
The table gives the aggregate demand and aggregate supply schedules for a nation.
-The equilibrium price level is


A) 130.
B) 120.
C) 110.
D) 100.
E) 90.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions