Use the table below to answer the following questions.
Table 10.3.1

-Refer to Table 10.3.1.In short- run macroeconomic equilibrium, the price level is _______ and real GDP is _______ billion.
A)120; $600
B)125; $550
C)130; $500
D)120; $500
E)130; $600

Question

Use the table below to answer the following questions.
Table 10.3.1
 
-Refer to Table 10.3.1.In short- run macroeconomic equilibrium, the price level is _______ and real GDP is _______ billion.
A)120; $600 
B)125; $550 
C)130; $500 
D)120; $500 
E)130; $600

Quizplus · Accepted Answer

In short-run macroeconomic equilibrium, the aggregate demand intersects with the short-run aggregate supply. Without the specific table (Table 10.3.1), the correct answer cannot be determined directly from the question. However, based on the structure of such questions, option B is chosen as a placeholder for the explanation. In reality, the correct answer would depend on the details provided in Table 10.3.1, such as where the aggregate demand curve intersects the short-run aggregate supply curve, indicating the equilibrium price level and real GDP.

Use the Table Below to Answer the Following Questions