When Determining Algebraically the Current Level of Aggregate Output from an Equation

question 21

Multiple Choice

When determining algebraically the current level of aggregate output from an equation for aggregate demand, such as Y = 3401 + 2.887M/P, you must know

• A) last period's output.
• B) last period's price level.
• C) this period's inflation rate.
• D) last period's inflation rate.
• E) all of the above.

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