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Exhibit 11-3 -Refer to the Graph in the Exhibit.Consider an Economy Characterized

Question 66

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Exhibit 11-3
Exhibit 11-3 -Refer to the graph in the exhibit.Consider an economy characterized by the aggregate demand curve AD and the short-run aggregate supply curve SRAS50.What is the short-run equilibrium level of real GDP and the price level?   A)  $300 and 20  B)  $500 and 20  C)  $300 and 40  D)  $500 and 50
-Refer to the graph in the exhibit.Consider an economy characterized by the aggregate demand curve AD and the short-run aggregate supply curve SRAS50.What is the short-run equilibrium level of real GDP and the price level?  


A)  $300 and 20 
B)  $500 and 20 
C)  $300 and 40 
D)  $500 and 50

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