$\begin{array}{|l|l|l|}
\hline\begin{array}{l}
\text { Price level } \
\text { (GDP defl at or, } \
2005=100)
\end{array} & \begin{array}{l}
\text { Quantity of real } \
\text { GDP demanded } \
\text { (trillions of } 2005 \
\text { dollars) }
\end{array} & \begin{array}{l}
\text { Quantity of real } \
\text { GDP supplied } \
\text { (trillions of } 2005 \
\text { dollars) }
\end{array} \\hline 115 & 8.8 & 12.0 \
\hline 110 & 9.4 & 11.0 \
\hline 105 & 10.0 & 10.0 \
\hline 100 & 10.6 & 9.0 \
\hline 95 & 11.2 & 8.0 \
\hline 90 & 11.8 & 7.0 \
\hline
\end{array}$
-Based on the table above,
a) What is the equilibrium price level and real GDP?
b) If potential GDP is $11.0 trillion, what does that imply about the economyʹs level of employment?
c) If potential GDP is $9.0 trillion, what does that imply about the economyʹs level of employment?

Question

Quizplus · Accepted Answer

The Answer of $\begin{array}{|l|l|l|}
\hline\begin{array}{l}
\text { Price level } \
\text { (GDP defl at or, } \
2005=100)
\end{array} & \begin{array}{l}
\text { Quantity of real } \
\text { GDP demanded } \
\text { (trillions of } 2005 \
\text { dollars) }
\end{array} & \begin{array}{l}
\text { Quantity of real } \
\text { GDP supplied } \
\text { (trillions of } 2005 \
\text { dollars) }
\end{array} \\hline 115 & 8.8 & 12.0 \
\hline 110 & 9.4 & 11.0 \
\hline 105 & 10.0 & 10.0 \
\hline 100 & 10.6 & 9.0 \
\hline 95 & 11.2 & 8.0 \
\hline 90 & 11.8 & 7.0 \
\hline
\end{array}$
-Based on the table above,
a) What is the equilibrium price level and real GDP?
b) If potential GDP is $11.0 trillion, what does that imply about the economyʹs level of employment?
c) If potential GDP is $9.0 trillion, what does that imply about the economyʹs level of employment?

-Based on the Table Above, A) What Is the Equilibrium

-Based on the Table Above,
A) What Is the Equilibrium