It Shows the Aggregate Demand and Aggregate Supply Schedule for a Hypothetical

question 121

Multiple Choice

It shows the aggregate demand and aggregate supply schedule for a hypothetical economy. Refer to the table above. If the quantity of real domestic output demanded decreased by $500 and the quantity of real domestic output supplied increased by $500 at each price level, the new equilibrium price level and quantity of real domestic output would be:

• A) 150 and $1500
• B) 150 and $2000
• C) 200 and $2000
• D) 250 and $2000

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Definitions:

Genetically Modified Seeds

Seeds that have been altered using genetic engineering techniques to exhibit traits such as pesticide resistance or increased nutritional value.

Service Mark

A trademark used to identify and distinguish the services (rather than products) of one provider from those of others.

Trade Name

The name under which a business operates and is known to the public, different from its legal name.

Weather Announcer

A person or system that communicates weather forecasts and conditions to the public.