The Table Below Shows the Aggregate Demand and Aggregate Supply

question 95

Multiple Choice

The table below shows the aggregate demand and aggregate supply schedules for a hypothetical economy. Refer to the table above. At the price level of 150, there will be a general:

• A) Surplus in the economy, and output supplied will decrease as the price level falls
• B) Shortage in the economy, and output demanded will decrease as the price level rises
• C) Surplus in the economy, and output supplied will increase as the price level rises
• D) Shortage in the economy, and output demanded will increase as the price level falls

---

Definitions:

Driving Route

The predetermined path or directions followed when operating a vehicle from one location to another.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.

Lottery Jackpot

The largest prize available in a lottery, often accumulating until it is won.

Infinitesimal Odds

Extremely small chances or probabilities of a specific event occurring.