-Using the Data in the Above Table, in the Short-Run

question 76

Multiple Choice

$$\begin{array} { | l | l | l | l | } \hline \begin{array} { l } \text { Price } \\\text { level }\end{array} & \begin{array} { l } \text { A ggregate } \\\text { demand } \\\text { (trillions of } \\\text { 2005 dollars) }\end{array} & \begin{array} { l } \text { Short-run } \\\text { aggregate } \\\text { supply } \\\text { (trillions of } \\\text { 2005 dollars) }\end{array} & \begin{array} { l } \text { Long-run } \\\text { aggregate } \\\text { supply } \\\text { (trillions of } \\\text { 2005 dollars) }\end{array} \\\hline 100 & 13 & 9 & 10 \\\hline 105 & 12 & 10 & 10 \\\hline 110 & 11 & 11 & 10 \\\hline 115 & 10 & 13 & 10 \\\hline\end{array}$$
-Using the data in the above table, in the short-run macroeconomic equilibrium, the price level is____________ and the level of real GDP is____________ .

• A) 105; $10 trillion
• B) 115; $10 trillion
• C) 110; $10 trillion
• D) 110; $11 trillion

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Definitions:

Pectoral Region

The area of the body located on the chest or anterior thorax.

Chest Area

An anatomical region of the body encompassing the thorax, bounded by the neck, shoulders, abdomen, and back, housing vital organs such as the heart and lungs.

Pole Vault

A track and field event in which athletes use a long flexible pole as an aid to jump over a high bar.

Hips

Refers to the area around the pelvic bone, where the thigh bone (femur) connects to the pelvis.