Solved

Answer the Question on the Basis of the Following Aggregate

Question 113

Multiple Choice

Answer the question on the basis of the following aggregate demand and supply schedules for a hypothetical economy: Amount of Real Output Demanded$200300400500600Price Level(Index Value) 300250200150100Amount of RealOutput Supplied$500450400300200\begin{array}{c}\begin{array}{c}\text {Amount of Real }\\\underline{\text {Output Demanded}}\\\$ 200 \\300 \\400 \\500 \\600\end{array}\begin{array}{c}\text {Price Level}\\\underline{\text {(Index Value) }}\\300\\250\\200\\150\\100\end{array}\begin{array}{c}\text {Amount of Real}\\\underline{\text {Output Supplied}}\\\$ 500 \\450 \\400 \\300 \\200\end{array}\end{array}
Refer to the data.The equilibrium price level will be:


A) 150.
B) 200.
C) 250.
D) 300.

Correct Answer:

verifed

Verified

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

Related Questions