Refer to the information provided in Table 9.1 below to answer the questions that follow.
Table 9.1
-Refer to Table 9.1. The equilibrium level of output is ________ billion.

Question

Refer to the information provided in Table 9.1 below to answer the questions that follow.
Table 9.1 
-Refer to Table 9.1. The equilibrium level of output is ________ billion.

Quizplus · Accepted Answer

The equilibrium level of output is where aggregate expenditure equals real GDP. In Table 9.1, the aggregate expenditure is $1,600 billion at both YF and YD. Therefore, the equilibrium level of output is $1,600 billion.

Refer to the Information Provided in Table 9