Exhibit 11-3 -In an economy characterized by the aggregate demand curve AD and the short-run aggregate supply curve SRAS₁₁₀in Exhibit 11-3,what would be the short-run equilibrium level of real GDP and the price level? A)$14 trillion and 110 B)$14 trillion and 105 C)$12 trillion and 105 D)$12 trillion and 110 E)the short-run equilibrium of real gdp and the price level cannot be determined from the exhibit

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The Answer of Exhibit 11-3 -In an economy characterized by the aggregate demand curve AD and the short-run aggregate supply curve SRAS₁₁₀in Exhibit 11-3,what would be the short-run equilibrium level of real GDP and the price level? A)$14 trillion and 110 B)$14 trillion and 105 C)$12 trillion and 105 D)$12 trillion and 110 E)the short-run equilibrium of real gdp and the price level cannot be determined from the exhibit

Exhibit 11-3 -In an Economy Characterized by the Aggregate Demand Curve AD