The Table Gives Aggregate Demand and Supply Schedules for a
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question 125

Multiple Choice

$$\begin{array} { | c | c | c | } \hline \begin{array} { c } \text { Amount of Real Output } \\\text { Demanded }\end{array} & \text { Price Level (Index Value) } & \begin{array} { c } \text { Amount of Real Output } \\\text { Supplied }\end{array} \\\hline \$ 200 & 300 & \$ 500 \\\hline 300 & 250 & 450 \\\hline 400 & 200 & 400 \\\hline 500 & 150 & 300 \\\hline 600 & 100 & 200 \\\hline\end{array}$$ The table gives aggregate demand and supply schedules for a hypothetical economy. If the amount of real output demanded at each price level falls by $200, the equilibrium price level and
Equilibrium level of real domestic output will fall to

• A) 250 and $200, respectively.
• B) 200 and $300, respectively.
• C) 150 and $300, respectively.
• D) 150 and $200, respectively.

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Definitions:

Population Locations

The geographical areas where members of a defined population are found or reside.

Friedman Test

A non-parametric test for detecting differences in treatments across multiple test attempts, usually applied to cases with dependent samples.

Population Locations

This term isn’t a standard statistical or geographical concept, so it may be misunderstood or used in a different context. The correct term might be "population distribution."

P-value

The probability of obtaining test results at least as extreme as the ones observed, assuming the null hypothesis is true.