The Figure Given Below Represents the Equilibrium Real GDP and Price

question 20

Multiple Choice

The figure given below represents the equilibrium real GDP and price level in the aggregate demand and aggregate supply model. Figure 8.3 Refer to Figure 8.3.If AS₁ and AD₁ represent the initial aggregate demand and supply in the economy, the long-run equilibrium real GDP will be _____ billion.

• A)$100
• B)$200
• C)$300
• D)$400
• E)$500

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