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The following table shows the aggregate demand and aggregate supply schedule for a hypothetical economy. Real domestic output demanded (in billions) Price level Real domestic
The following table shows the aggregate demand and aggregate supply schedule for a hypothetical economy. Real domestic output demanded (in billions) Price level Real domestic output supplied (in billions) $500 350 $3000 $1000 300 $3000 $1500 250 $2500 $2000 200 $2000 $2500 150 $1500 $3000 150 $1000 Refer to the above table. If the quantity of real domestic output demanded decreased by $500 and the quantity of real domestic output supplied increased by $500 at each price level, the new equilibrium price level and quantity of real domestic output would be
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