Table 10-1
-In Table 10-1, what is the equilibrium level of real output and the equilibrium price?
A)$3,100 real output and a price of 75
B)$3,250 real output and a price of 110
C)$3,350 real output and a price of 90
D)$3,400 real output and a price of 75

Question

Table 10-1 
-In Table 10-1, what is the equilibrium level of real output and the equilibrium price?
A)$3,100 real output and a price of 75 
B)$3,250 real output and a price of 110 
C)$3,350 real output and a price of 90 
D)$3,400 real output and a price of 75

Quizplus · Accepted Answer

In Table 10-1, the equilibrium level of real output is where aggregate demand (AD) equals aggregate supply (AS), which occurs at a price level of 110 and real output level of 3,250. Therefore, choice B is the correct answer.

Table 10-1 -In Table 10-1, What Is the Equilibrium Level of Real