The economy is in short-run macroeconomic equilibrium when the quantity of aggregate output supplied is equal to the quantity of aggregate output demanded.

Question

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In short-run macroeconomic equilibrium, the quantity of aggregate output supplied (real GDP) is equal to the quantity of aggregate output demanded (real GDP), meaning that there is no unintended inventory accumulation or depletion. This is a fundamental concept in macroeconomics.

The Economy Is in Short-Run Macroeconomic Equilibrium When the Quantity