Question: The table sets out an economys aggregate demand and aggregate supply schedules. What is the macroeconomic equilibrium? If potential GDP is $600 billion, what is

The table sets out an economy€™s aggregate demand and aggregate supply schedules. What is the macroeconomic equilibrium? If potential GDP is $600 billion, what is the type of macroeconomic equilibrium? Explain how real GDP and the price level will adjust in the long run.

Price level (GDP price index) Real GDP Real GDP demanded supplied (billions of 2009 dollars) 90 900 600 850 00 700 110 8

Price level (GDP price index) Real GDP Real GDP demanded supplied (billions of 2009 dollars) 90 900 600 850 00 700 110 800 800 120 750 900 130 700 1,000

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