© Economics Learning Center Online Classes - Final Mock Exam (1) Price Level (Index Value) Real Domestic Output Real Dom

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Economics Learning Center Online Classes Final Mock Exam 1 Price Level Index Value Real Domestic Output Real Dom 1 (44.24 KiB) Viewed 11 times

© Economics Learning Center Online Classes - Final Mock Exam (1) Price Level (Index Value) Real Domestic Output Real Domestic Output Demanded (in Billions) 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 16) The accompanying table shows the aggregate demand and aggregate supply schedules for a hypothetical economy. 2 A) The equilibrium price and output levels will be B) At the price level of 150, What will happen in the economy? Why? C)At the price level of 350, What will happen in the economy? Why? 2nd Semester 2021/2022