Refer to the above graph. Which of the following statemen Copyrighted material - not to be shared. this economy is in short run macroeconomic equilibrium trillion the quantity of aggregate output demanded is equal to output supplied when the price level equals 130

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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2

LAS
* 160
SAS
150
140
130
120
AD
4.
12
16
20
24
Recl GOP riliors of 2000 dellon)
Refer to the above graph. Which of the following statements is NOT true?
Copyrighted material - not to be shared.
this economy is in short run macroeconomic equilibrium with real GDP at $8
trillion
the quantity of aggregate output demanded is equal to the quantity of aggregate
output supplied when the price level equals 130
Following the long-run adjustment, the aggregate price level will be 140
Following the long-run adjustment, the price level will be 120
Price lovel (GOP deflator, 2000 - 10g
Transcribed Image Text:LAS * 160 SAS 150 140 130 120 AD 4. 12 16 20 24 Recl GOP riliors of 2000 dellon) Refer to the above graph. Which of the following statements is NOT true? Copyrighted material - not to be shared. this economy is in short run macroeconomic equilibrium with real GDP at $8 trillion the quantity of aggregate output demanded is equal to the quantity of aggregate output supplied when the price level equals 130 Following the long-run adjustment, the aggregate price level will be 140 Following the long-run adjustment, the price level will be 120 Price lovel (GOP deflator, 2000 - 10g
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