Real Domestic Output Real Domestic Output Demanded (In Billions) Price

question 111

Multiple Choice

Real Domestic Output Real Domestic Output Demanded (in Billions) Price Level (Index Value) Supplied
$500 350 $3,500
1,000 300 3,000
1,500 250 2,500
2,000 200 2,000
2,500 150 1,500
3,000 100 1,000
The accompanying table shows the aggregate demand and aggregate supply schedule for a
Hypothetical economy. If the quantity of real domestic output demanded decreased by $500 and
The quantity of real domestic output supplied increased by $500 at each price level, the new
Equilibrium price level and quantity of real domestic output would be

• A) 150 and $1,500.
• B) 150 and $2,000.
• C) 200 and $2,000.
• D) 250 and $2,000.

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Definitions:

Contaminated

Made impure or unsuitable by contact or mixture with a harmful substance.

Traditional Technologies

Are established methods and tools that have been historically used in production, manufacturing, or processes without significant modern innovations.

Wildlife Habitat

Natural environments in which wildlife species live, including forests, wetlands, grasslands, and other ecosystems.

Farmland

Land used for the purpose of agricultural activities such as growing crops and rearing animals.