5. Refer to the data in the table that accompanies problem 2. Suppose that the present equilibrium price level and level of real GDP are 100 and $225, and that data set B represents the relevant aggregate supply schedule for the economy. LO4

a. What must be the ecnutr r amount f oeral output demanded at the 100 price level?

b. If the amountf ooutput demanded declinedy b$25 at the 100 price levels shown in B, what would be the new equilibrium real GDP? In business cycle terminology, what would economists call this change in real GDP?