Use the following table which shows the aggregate demand and aggregate supply schedules for a hypothetical economy to answer the next question.    The equilibrium price and output levels will be   Multiple Choice   300 and $8,000.   200 and $5,000.   200 and $6,000.   250 and $7,000.

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Use the following table which shows the aggregate demand and aggregate supply schedules for a hypothetical economy to answer the next question. 

 

The equilibrium price and output levels will be

 

Multiple Choice
  •  
    300 and $8,000.
  •  
    200 and $5,000.
  •  
    200 and $6,000.
  •  
    250 and $7,000.

 

Real Domestic Output
Real Domestic Output
Demanded (in billions)
Price Level
(index value)
Supplied (in billions)
$3,000
350
$9,000
4,000
300
8,000
5,000
250
7,000
6,000
200
6,000
7,000
150
5,000
8,000
100
4,000
Transcribed Image Text:Real Domestic Output Real Domestic Output Demanded (in billions) Price Level (index value) Supplied (in billions) $3,000 350 $9,000 4,000 300 8,000 5,000 250 7,000 6,000 200 6,000 7,000 150 5,000 8,000 100 4,000
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