Real GDP supplied

-The table above gives the aggregate demand and aggregate supply schedules in Lotus Land. The short-run macroeconomic equilibrium is a price level of ________ and a real GDP of ________.
A) 90; $400
B) 100; $400
C) 110; $500
D) 120; $400

Question

Real GDP supplied
 
-The table above gives the aggregate demand and aggregate supply schedules in Lotus Land. The short-run macroeconomic equilibrium is a price level of ________ and a real GDP of ________.
A) 90; $400 
B) 100; $400 
C) 110; $500 
D) 120; $400

Quizplus · Accepted Answer

The short-run macroeconomic equilibrium occurs where aggregate demand equals aggregate supply. At a price level of 110, both aggregate demand and aggregate supply equal $500.

Real GDP Supplied -The Table Above Gives the Aggregate Demand and Aggregate Supply