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THIS IS ALL THAT SHOWS FOR THE QUESTION Use the table and graph to answer three questions. Real GDP (in $ Trillions) Price Level Supplied
THIS IS ALL THAT SHOWS FOR THE QUESTION
Use the table and graph to answer three questions. Real GDP (in $ Trillions) Price Level Supplied Demanded 100 4 16 110 10 15 140 14 12 200 15 6 220 AS 200 180 160 Price Level 140 120 100 AD 80 0 5 10 15 20 Real GDP in $ trillions) Using the information in the table and graph, answer the following questions. a. What is the equilibrium price level? b. What is the equilibrium output? trillion in real GDP c. If the quantity of output demanded at every price level increases by $2 trillion, what happens to equilibrium output and prices? Output PricesStep by Step Solution
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