Figure 83 Alt Text for Figure 8

Multiple Choice

Figure 8.3 Alt text for Figure 8.3: In figure 8.3, a graph comparing real GDP and real aggregate expenditure.
Long description for Figure 8.3: The x-axis is labelled, real GDP, Y (trillions of 2002 dollars) .The y-axis is labelled, real aggregate expenditure, AE (trillions of 2002 dollars) .Line Y = AE, originates at the vertex and slopes up to the top right corner.Line AE1, begins a little less than half way along the x-axis and slopes up to the end of the x-axis.Both these lines intersect at point K, approximately 3 quarters of the way along both lines.Point J is plotted a little less than half way along line AE1, to the left of point K.Point L is marked close to the right end of the line AE1, to the right of point K.
-Refer to Figure 8.3.If the economy is in equilibrium, it is at a level of aggregate expenditure given by point

A) J)
B) K)
C) L)
D) Points J, K, and L all represent equilibrium.