Use the table below to answer the following question(s).
Table 27.3.1
The following table shows the relationship between aggregate planned
expenditure and real GDP in the hypothetical economy of Econoworld.

-Refer to Table 27.3.1.The equilibrium level of real GDP is
A)$525 billion.
B)$550 billion.
C)$450 billion
D)$500 billion
E)none of the above.

Question

Use the table below to answer the following question(s).
Table 27.3.1
The following table shows the relationship between aggregate planned
expenditure and real GDP in the hypothetical economy of Econoworld.
 
-Refer to Table 27.3.1.The equilibrium level of real GDP is
A)$525 billion. 
B)$550 billion. 
C)$450 billion 
D)$500 billion 
E)none of the above.

Quizplus · Accepted Answer

The equilibrium level of real GDP is determined where aggregate demand equals aggregate supply. In this context, it is given as $500 billion.

Use the Table Below to Answer the Following Question(s)