For the Aggregate Demand and Aggregate Supply Listed in Schedule

question 21

Multiple Choice

For the aggregate demand and aggregate supply listed in schedule #3 of the table given below,the equilibrium output level and price level 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.

---

Definitions:

Court Orders

Legal directives issued by a judge or a court that require a person or entity to do or not do specific actions.

Securities Exchange Act of 1934

A law governing the trading of securities, such as stocks and bonds, aiming to prevent fraud and manipulation in the securities markets.

Scienter

refers to knowledge of wrongdoing or fraudulent intent, often a necessary element to prove liability in fraud cases.

Civil Liability

The responsibility to compensate for losses or damages caused to another party due to negligence or unlawful acts within civil law.