-Refer to the Aggregate Demand and Aggregate Supply Schedules in }

question 106

Multiple Choice

$$\begin{array} { c c c } \hline \begin{array} { c } \text { Aggregate demand } \\\text { (quantity demanded, } \\\text { in billions of dollars) }\end{array} & \text { Price level } & \begin{array} { c } \text { Aggregate supply } \\\text { (quantity supplied, } \\\text { in billions of dollars) }\end{array} \\\hline \$ 100 & 150 & \$ 1,200 \\200 & 125 & 1,000 \\400 & 100 & 800 \\600 & 75 & 600 \\800 & 50 & 400 \\1,000 & 25 & 200 \\\hline\end{array}$$
-Refer to the aggregate demand and aggregate supply schedules in the exhibit.What is the equilibrium price level?  

• A) 25 
• B) 50 
• C) 75 
• D) 100

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Definitions:

Going Rate

Refers to the current average cost or pricing point for goods, services, or wages in a particular market or industry.

Oil Well

A drilled site where petroleum and natural gas are extracted from beneath the earth's surface.

Return

The profit or loss made on an investment over a certain period, often expressed as a percentage of the initial investment.

Payment

The act of giving money in exchange for goods, services, or to fulfill any obligations such as dividends to shareholders.