Consider Schedule #1 in the Aggregate Demand and Aggregate Supply

question 95

Multiple Choice

Consider schedule #1 in the aggregate demand and aggregate supply table given below.The equilibrium output and price level for the economy described on this schedule are:​ ​
Table 10.1
​
Quantity of
Aggregate Output
Demanded
​
Price
Level
Quantity of
Aggregate Output Supplied
#1
#2
#3
$7) 0
110
$5) 0
$6) 0
$4) 0
6) 5
120
5) 5
6) 5
4) 5
6) 0
130
6) 0
7) 0
5) 0
5) 5
140
6) 5
7) 5
5) 5
5) 0
150
7) 0
8) 0
6) 0

• A)$7.0 and 110,respectively.
• B)$6.5 and 120,respectively.
• C)$6.0 and 130,respectively.
• D)$5.5 and 140,respectively.
• E)$5.0 and 150,respectively.

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Definitions:

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