The Equilibrium Price Level and Level of Real Output Occur

question 233

Multiple Choice

The equilibrium price level and level of real output occur where

• A) real output is at its highest possible level.
• B) exports equal imports.
• C) the price level is at its lowest level.
• D) the aggregate demand and supply curves intersect.

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Definitions:

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Graphical representations showing the relationship between the price of a good and the quantity demanded by consumers at those prices.

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The mean level of value or performance of a product or service, typically assessed over a specific period or set of conditions.

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