Refer to the information provided in Table 9.8 below to answer the questions that follow.
Table 9.8
All Figures in Billions of Dollars

-Refer to Table 9.8. The equilibrium level of income is

Question

Refer to the information provided in Table 9.8 below to answer the questions that follow.
Table 9.8
All Figures in Billions of Dollars
 
-Refer to Table 9.8. The equilibrium level of income is

Quizplus · Accepted Answer

The equilibrium level of income is where aggregate expenditure is equal to output. In the table, we can see that at a price level of 100, aggregate expenditure equals $3,600 billion, which is also the level of output. Therefore, the equilibrium level of income is $3,600 billion.

Refer to the Information Provided in Table 9