Given AD₁ and AS₁,if the average price level in Figure 8.3 were at P₃, A)A surplus would exist initially. B)The aggregate quantity demanded would exceed the aggregate quantity supplied. C)The average price level would rise. D)The equilibrium price level would be P₃.

Question

Quizplus · Accepted Answer

The Answer of Given AD₁ and AS₁,if the average price level in Figure 8.3 were at P₃, A)A surplus would exist initially. B)The aggregate quantity demanded would exceed the aggregate quantity supplied. C)The average price level would rise. D)The equilibrium price level would be P₃.

Given AD1 and AS1,if the Average Price Level in Figure

Given AD₁ and AS₁,if the Average Price Level in Figure