Exhibit 1  Aggregate Demand and Supply Model as Shown

question 27

Multiple Choice

Exhibit 1  Aggregate demand and supply model As shown in Exhibit 1 and assuming the aggregate demand curve shifts from AD₁ and AD₂ , the full-employment level of real GDP is:

• A)$12 billion.
• B)$8 billion.
• C)$150 billion.
• D)unable to be determined.

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