Figure 7-5 -Refer to Figure 7-5. What are the prevailing price level and the output level in the economy? A) Price level = P₁; real GDP = Y_p B) Price level = P₁; real GDP = Y₁ C) Price level = P₂; real GDP = Y₂ D) Price level = P₃; real GDP = Y_p

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The Answer of Figure 7-5 -Refer to Figure 7-5. What are the prevailing price level and the output level in the economy? A) Price level = P₁; real GDP = Y_p B) Price level = P₁; real GDP = Y₁ C) Price level = P₂; real GDP = Y₂ D) Price level = P₃; real GDP = Y_p

Figure 7-5 -Refer to Figure 7-5. What Are the Prevailing Price Level