Refer to the information provided in Table 24.5 below to answer the question(s) that follow.
Table 24.5
All Numbers are in $ Million
-Refer to Table 24.5. The equilibrium level of aggregate output is $________ million.

Question

Refer to the information provided in Table 24.5 below to answer the question(s) that follow.
Table 24.5
All Numbers are in $ Million 
-Refer to Table 24.5. The equilibrium level of aggregate output is $________ million.

Quizplus · Accepted Answer

The equilibrium level of aggregate output is determined where aggregate demand equals aggregate supply. Based on the information provided, $1,400 million is the level where this condition is met.

Refer to the Information Provided in Table 24