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The tables below show the aggregate demand and two aggregate supplies for the economy of Zandu. Aggregate Quantity Aggregate Quantity Aggregate Quantity Price Index Demanded
The tables below show the aggregate demand and two aggregate supplies for the economy of Zandu. Aggregate Quantity Aggregate Quantity Aggregate Quantity Price Index Demanded Price Index Supplied (1) Price Index Supplied (2) | 86 | 800 | s | 0000000 8@ 0| % 550 a. Of the two aggregate supply schedules, (1) or (2), the neoclassical aggregate supply is schedule |1 ~ Of the two aggregate supply schedules, (1) or (2), the Keynesian aggregate supply is schedule |2 v b. According to the neoclassical school, the equilibrium level of price would be 88| and equilibrium real GDP would be $[ 800]. c. According to the Keynesian school, the equilibrium level of price would be 88| and equilibrium real GDP would be $ 800/ . Assume that aggregate demand increased by $50. d. Accarding to the neoclassical school, the new equilibrium value of price is 83| and equilibrium real GDP is $[ 800] according to the neoclassical school. e. According to the Keynesian school, the new equilibrium value of price is 88| and equilibrium real GDP is $ according to the Keynesian school
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