Exhibit 11-1 -Given Aggregate Demand and Aggregate Supply Schedule #3 in Exhibit

Multiple Choice

Exhibit 11-1

-Given aggregate demand and aggregate supply schedule #3 in Exhibit 11-1, the equilibrium level of output and price level are

A) output $7.0, price level 110
B) output $6.5, price level 120
C) output $6.0, price level 130
D) output $5.0, price level 150
E) output $5.5, price level 140