-In Table 20-2, what is equilibrium GDP?
A)$2,500
B)$3,500
C)$4,500
D)$5,500

Name: -In Table 20-2, what is equilibrium GDP? A)$2,500 B)$3,500 C)$4,500 D)$5,500
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Question

-In Table 20-2, what is equilibrium GDP?
A)$2,500 
B)$3,500 
C)$4,500 
D)$5,500

Quizplus · Accepted Answer

Equilibrium GDP is the level of output where aggregate expenditure is equal to aggregate output. Looking at the table, we can see that at a price level of $300, the aggregate expenditure and aggregate output are both $4,500. Therefore, the equilibrium GDP is $4,500.

-In Table 20-2, What Is Equilibrium GDP