The following aggregate demand and supply schedules are for a hypothetical economy: Refer to the above data.If the price level is 150 and producers supply $300 of real output:
A)a shortage of real output of $200 will occur.
B)a shortage of real output of $100 will occur.
C)a surplus of real output of $300 will occur.
D)neither a shortage nor a surplus of real output will occur.

Question

The following aggregate demand and supply schedules are for a hypothetical economy:  Refer to the above data.If the price level is 150 and producers supply $300 of real output:
A)a shortage of real output of $200 will occur. 
B)a shortage of real output of $100 will occur. 
C)a surplus of real output of $300 will occur. 
D)neither a shortage nor a surplus of real output will occur.

Quizplus · Accepted Answer

The Answer of The following aggregate demand and supply schedules are for a hypothetical economy:  Refer to the above data.If the price level is 150 and producers supply $300 of real output:
A)a shortage of real output of $200 will occur. 
B)a shortage of real output of $100 will occur. 
C)a surplus of real output of $300 will occur. 
D)neither a shortage nor a surplus of real output will occur.

The Following Aggregate Demand and Supply Schedules Are for a Hypothetical