Question: Week 1 1 Homework Use the Table below to answer the following questions. table [ [ Price Level,Aggregate Supply,Aggregate Demand ] , [ 9

Week 11 Homework
Use the Table below to answer the following questions.
\table[[Price Level,Aggregate Supply,Aggregate Demand],[90,3000,3500],[95,3000,3000],[100,3000,2500],[105,3000,2200],[110,3000,2100]]
a. Sketch an aggregate supply and aggregate demand diagram.
b. What is the equilibrium output and price level?
c. If aggregate demand shifts right by 500 units, use changes in the graph to determine new equilibrium output and price level.
d. If aggregate demand shifts left by 500 units, use changes in the graph to determine new equilibrium output and price level.
e. In this scenario, would you suggest using aggregate demand to alter the level of output or to control any inflationary increases in the price level?
Week 1 1 Homework Use the Table below to answer

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