-Refer to the Above Diagram

question 54

Multiple Choice

-Refer to the above diagram.If aggregate supply is AS₁ and aggregate demand is AD₀,then:

• A) at any price level above G a shortage of real output would occur.
• B) F represents a price level which would result in a surplus of real output of AC.
• C) a surplus of real output of GH would occur.
• D) F represents a price level which would result in a shortage of real output of AC.

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