Refer to the information provided in Table 9.7 below to answer the questions that follow.
Table 9.7
All Numbers are in $ Million
-Refer to Table 9.7. The equilibrium level of aggregate income is $________ million.

Question

Refer to the information provided in Table 9.7 below to answer the questions that follow.
Table 9.7
All Numbers are in $ Million 
-Refer to Table 9.7. The equilibrium level of aggregate income is $________ million.

Quizplus · Accepted Answer

The equilibrium level of aggregate income is where the aggregate demand (AD) equals the aggregate supply (AS) or where the intersection of AD and AS occurs. In Table 9.7, the point of intersection is at $1,400 million.

Refer to the Information Provided in Table 9