Solved

-If the Amount of Real Output Demanded at Each Price

Question 37

Multiple Choice

 Amount of Real  Output Demanded  Price Level  (index value)   Amount of Real  Output Supplied $200300$475300250450400200400500150300600100100\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Amount of Real } \\\text { Output Demanded }\end{array} & \begin{array} { c } \text { Price Level } \\\text { (index value) }\end{array} & \begin{array} { c } \text { Amount of Real } \\\text { Output Supplied }\end{array} \\\hline \$ 200 & 300 & \$ 475 \\\hline 300 & 250 & 450 \\\hline 400 & 200 & 400 \\\hline 500 & 150 & 300 \\\hline 600 & 100 & 100 \\\hline\end{array}
-If the amount of real output demanded at each price level falls by $200,the equilibrium price level and equilibrium level of real output will fall to:


A) 250 and $200, respectively
B) 200 and $300, respectively
C) 150 and $300, respectively
D) 150 and $200, respectively
E) 300 and $275, respectively

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions

Unlock this Answer For Free Now!

View this answer and more for free by performing one of the following actions

qr-code

Scan the QR code to install the App and get 2 free unlocks

upload documents

Unlock quizzes for free by uploading documents