The following are an aggregate demand and supply schedules for a hypothetical economy.All figures in $ billions.
-Refer to the information above to answer this question.What are the implications if the price level is 120?
A) The price level is above equilibrium.
B) There is a shortage of real output of 300.
C) There is a surplus of real output of 300.
D) There is a surplus of real output of 150.
Correct Answer:
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Q52: Which of the following is true of
Q53: Q54: What will cause the AS curve to Q55: All of the following,except one,will cause an Q56: Which of the following will shift the Q58: What will be the effect of a Q59: Which of the following will cause the Q60: All of the following,except one,will cause an Q61: What could cause the level of Real Q62: What is the result of a decrease
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