Refer to the information provided in Table 24.3 below to answer the question(s) that follow.
Table 24.3
-Refer to Table 24.3. At an output level of $2,400 billion, the level of aggregate expenditure is

Question

Refer to the information provided in Table 24.3 below to answer the question(s) that follow.
Table 24.3 
-Refer to Table 24.3. At an output level of $2,400 billion, the level of aggregate expenditure is

Quizplus · Accepted Answer

At an output level of $2,400 billion, the level of aggregate expenditure is given by the intersection of the AD and AS curves. From the table, we can see that at an output level of $2,400 billion, the AD curve intersects the AS curve at a price level of 115. This corresponds to an aggregate expenditure of $2,400 billion, which is the level of output. Therefore, the correct answer is C, $2,400 billion.

Refer to the Information Provided in Table 24