Full employment of the economy's resources occurs when O the price level drops below 200. O real output is $1,500 billion. O real output is $3,000 billion. aggregate demand equals aggregate supply. O the price level is 200.

Full employment of the economy's resources occurs when O the price level drops below 200. O real output is $1,500 billion. O real output is $3,000 billion. aggregate demand equals aggregate supply. O the price level is 200.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Price Level
500-
400-
300
200
100-
0
Aggregate
demand
500 1,000 1,500 2,000 2,500 3,000
Total Roal Output (pillions of dollars)
Aggregate
supply
Full employment of the economy's resources occurs when
O the price level drops below 200.
Oreal output is $1,500 billion.
O real output is $3,000 billion.
O aggregate demand equals aggregate supply.
O the price level is 200.

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