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
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
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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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](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F61982885-e72d-401f-b541-5904cf9f5e34%2F8883e421-2ce2-4008-8bf3-6523f4b266df%2Fz9lh45c_processed.jpeg&w=3840&q=75)
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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