Refer to the information above to answer and match the below question.
Column A
What is the equilibrium level of output?
What are the implications if the price level is
120 ?
If the aggregate quantity demanded falls by 150 ,
what will be the equilibrium price level and real
output, respectively?
Column B
a. 1000
b. There is a shortage of real output of 300 .
c. $130 and 950 .
Aggregate Quantity Demanded 1200 110 1000 900 800
Aggregate Quantity Supplied 900 950 1000 1050 1100
Price Index 120 130 140 150 160
Refer to the information above to answer and match the below question
Column A
Column B .1000
1.
What is the equilibrium level of output?
2.
What are the implications if the price level is 120? If the aggregate quantity demanded falls by 150 what will be the equilibrium price level and real output,respectively?
b.There is a shortage of real output of 300
3.
c.$130 and 950
