The Figure Given Below Represents the Equilibrium Real GDP and Price

question 61

Multiple Choice

The figure given below represents the equilibrium real GDP and price level in the aggregate demand and aggregate supply model.?Figure 8.3

-Refer to Figure 8.3. If AS₁ and AD₁ represent the initial aggregate demand and supply in the economy, the long-run equilibrium real GDP will be _____ billion.

• A) $100
• B) $200
• C) $300
• D) $400
• E) $500

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Definitions:

Ego

Part of the psyche that channels libido to be acceptable to the superego and within the constraints of reality.

Id

According to Freud, the most primitive part of the unconscious; consists of drives and impulses seeking immediate gratification.

Sexual Urges

Natural, intense desires or inclinations toward engaging in sexual activities.

Freud's Theory

A set of psychoanalytic theories and therapeutic techniques related to the study of the unconscious mind, developed by Sigmund Freud.