Chapter9: Aggregate Demand
Section: Chapter Questions
Problem 4.8P
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Question
![Figure 12-1
Real aggregate
expenditure, AE
(trillions of
dollars)
point J.
Y = AE
AE
Refer to Figure 12-1. If the economy is in equilibrium, the level of aggregate expenditure measured by vertical height to
Opoint L
Points J, K and L all represent equilibrium.
Opoint K
Real GDP, Y
(trillions of
dollars) (aggregate income-aggregate output)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F5e541de9-41da-44be-877f-4ecf978c61b9%2F5cc815c4-117a-4b68-a725-a4ec6d05edb2%2Fntac2ur_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Figure 12-1
Real aggregate
expenditure, AE
(trillions of
dollars)
point J.
Y = AE
AE
Refer to Figure 12-1. If the economy is in equilibrium, the level of aggregate expenditure measured by vertical height to
Opoint L
Points J, K and L all represent equilibrium.
Opoint K
Real GDP, Y
(trillions of
dollars) (aggregate income-aggregate output)
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