​ Exhibit 10A-1 Aggregate Demand and Supply Model

question 84

Multiple Choice

​ Exhibit 10A-1 Aggregate demand and supply model

Given the shift of the aggregate demand curve from AD₁ to AD₂   in Exhibit 10A-1, the real GDP and price level (CPI) in long-run equilibrium will be:

• A) $8 billion and 150.
• B) $12 billion and 200.
• C) $8 billion and 250.
• D) $8 billion and 200.

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Definitions:

M/M/1

A model in queueing theory representing a system with a single server where arrivals and service times are Poisson distributed.

M/D/1

A notation in queueing theory representing a system with a single server, where arrivals are Markovian (M), service times are deterministic (D), and there is one server or channel (1).

Arrival Rate Distribution

Statistical representation describing the frequency and pattern of arrivals at a service system over a specific period.

Service Time Distribution

The statistical distribution of the time taken to serve customers in a queue, affecting waiting times and service efficiency.