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Assume that the economy is in equilibrium, and aggregate supply is described by the following equation: AS=39,000+1,350P Consumption spending is$99,000, investment spending is$49,000, government spending
Assume that the economy is in equilibrium, and aggregate supply is described by the following equation: AS=39,000+1,350P
Consumption spending is$99,000, investment spending is$49,000, government spending is$59,000, spending on exports is$44,000, and spending on imports is $54,000. Determine the equilibrium price level in this economy. Round your final answer to the nearest whole number if necessary.
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