Use the following to answer questions: 
-(Figure: Aggregate Expenditures I) Use Figure: Aggregate Expenditures I. The equilibrium real GDP is:
Definitions:
Market Price
The current price at which a good or service can be bought or sold in a marketplace, determined by supply and demand forces.
Equilibrium Price
The price at which the quantity of a good or service demanded equals the quantity supplied, leading to market equilibrium.
Quantity Supplied
The total amount of a particular good or service that producers are willing to provide at a given price.
Shortage
A market condition where the demand for a product or service exceeds its supply, often leading to higher prices or queuing.
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Q46: (Figure: Inflationary and Recessionary Gaps) Refer to
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Q163: The _ curve shows the positive relationship
Q170: Resources are being used efficiently when:<br>A) scarcity
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