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The table below depicts the relationship between the price level and aggregate demand and aggregate supply. Aggregate Demand and Aggregate Supply Price Level Aggregate Demand
The table below depicts the relationship between the price level and aggregate demand and aggregate supply. Aggregate Demand and Aggregate Supply Price Level Aggregate Demand (in millions) Short-Run Aggregate Supply (in millions) Long-Run Aggregate Supply (in millions) 50 $500 $125 $200 75 400 150 200 100 300 175 200 125 200 200 200 150 100 225 200 What is the market equilibrium? Multiple Choice a price level of 50 and real GDP of $500 million a price level of 200 and real GDP of $125 million a price level of 125 and real GDP of $200 million a price level of 100 and real GDP of $200 million
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