-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:

Output Effect

The change in total output resulting from an adjustment in productive resources or technology.

Service

An intangible act or use provided by one party to another, often characterized by an exchange of expertise or time.

Occupation

A job or profession practiced by an individual, often requiring specific skills or training.

Bureau of Labor Statistics

A U.S. government agency responsible for collecting, processing, and disseminating essential statistical data related to labor market activity, working conditions, price changes, and productivity.