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5/5/2019 Quiz: ADAS P P Price Level AD P 100 200 300 400 Real Output (billions of dollars per year) Given AD1and AS1, if the

5/5/2019 Quiz: ADAS P P Price Level AD P 100 200 300 400 Real Output (billions of dollars per year) Given AD1and AS1, if the average price level in Figure 8.3 were at P3 : O A surplus would exist initially. O The aggregate quantity demanded would exceed the aggregate quantity supplied. The average price level would rise. O The equilibrium price level would be P3. Question 7 1 pts http: /brood.instructure.com/courses/55002/quizzes/048057/take

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