The Following Are an Aggregate Demand and Supply Schedules for a Hypothetical

question 123

Multiple Choice

The following are an aggregate demand and supply schedules for a hypothetical economy.All figures in $ billions.

-Refer to the information above to answer this question.If the aggregate quantity demanded falls by 150,what will be the equilibrium price level and real output respectively?

• A)$120 and 900.
• B)$130 and 950.
• C)$140 and 950.
• D)$150 and 1,050.
• E)$160 and 1,050.

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Definitions:

Sensory Memory

The shortest-term element of memory, which allows the ability to retain impressions of sensory information after the original stimuli have ended.

Short-Term Memory

Short-term memory is a cognitive system that temporarily holds a limited amount of information in an active, readily available state for a short period of time, typically seconds to a few minutes.

Long-Term Memory

The phase of the memory process that is capable of storing information for prolonged periods of time, potentially indefinitely.

Implicit Memories

Memories that are not part of our consciousness, formed from behaviors learned through repetitive practice, such as riding a bike, and not consciously recalled.