The Table Gives the Aggregate Demand and Aggregate Supply Schedules

question 41

Multiple Choice

The table gives the aggregate demand and aggregate supply schedules for a nation.
-The table above gives data for the nation of Pearl, a small island in the South Pacific. If a supply shock decreases the quantity of real GDP supplied by $6 billion at each price level, the new equilibrium real GDP is

• A) $22 billion.
• B) $17 billion.
• C) $16 billion.
• D) $23 billion.
• E) $19 billion.

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Definitions:

Note Disclosures

Refers to additional information provided in a company's financial statements, which helps in understanding the numbers presented and includes details such as accounting policies and future obligations.

AASB 101

The Australian Accounting Standards Board document specifying the presentation of financial statements, providing guidelines for structure and minimum requirements for their content.

Impairment of Assets

A decrease in the recoverable value of an asset below its carrying amount, leading to an adjustment of its valuation on the balance sheet.

Financial Position

The status of the assets, liabilities, and equity of an entity as detailed in the balance sheet, indicating the entity’s economic resources and obligations at a given time.