Graph the following aggregate supply and demand curves (be sure to draw to scale). 1. What is
Question:
1. What is the equilibrium price level?
2. What is the equilibrium output?
3. If the quantity of output demanded at every price level increases by $2 trillion, what happens to equilibrium output and prices? Graph your answer.
Transcribed Image Text:
Real GDP (In $ Trillons) Price Level Supplied Demanded 100 4 16 110 10 15 140 14 12 200 15
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