Use the following figure to answer the questions : Figure 8.3:
-Macro equilibrium is established at which price level,given AD₁ and AS₁ in Figure 8.3?

Question

Use the following figure to answer the questions : Figure 8.3: -Macro equilibrium is established at which price level,given AD₁ and AS₁ in Figure 8.3? A)P₁. B)P₂. C)P₃. D)P₄.

Quizplus · Accepted Answer

Macro equilibrium is established where aggregate demand (AD) equals aggregate supply (AS). In the context of the given options, this occurs at price level P2 where AD1 intersects AS1.

Use the Following Figure to Answer the Questions : Figure