Macroeconomic equilibrium is best described as a situation in which _____
A) the slope of the aggregate demand curve equals the slope of the aggregate supply curve.
B) quantity demanded exceeds quantity supplied.
C) quantity demanded exceeds quantity supplied at a unique price level.
D) quantity supplied exceeds quantity demanded at a unique price level.
E) quantity supplied equals quantity demanded at a unique price level.

Question

Quizplus · Accepted Answer

Macroeconomic equilibrium is achieved when the quantity of goods and services supplied in the economy equals the quantity demanded at a unique price level. This can be represented graphically as the point of intersection between the aggregate demand and aggregate supply curves.

Macroeconomic Equilibrium Is Best Described as a Situation in Which