Price level (CPI) Exhibit 10A-6 Aggregate demand and supply model 250 200 150 100 50 0 2 E₂ 4 LRAS 6 SRAS₁ Given the shift of the aggregate demand curve from AD1 to AD2 in Exhibit 10A-6, the real GDP and price level (CPI) in long-run equilibrium will be: O a. $10 billion and 200. O b. $10 billion and 150. O c. $10 billion and 100. O d. $4 billion and 150. SRAS₂ AD₁ 8 10 12 14 15 16 17 Real GDP (billions of dollars per year) AD₂

Price level (CPI) Exhibit 10A-6 Aggregate demand and supply model 250 200 150 100 50 0 2 E₂ 4 LRAS 6 SRAS₁ Given the shift of the aggregate demand curve from AD1 to AD2 in Exhibit 10A-6, the real GDP and price level (CPI) in long-run equilibrium will be: O a. $10 billion and 200. O b. $10 billion and 150. O c. $10 billion and 100. O d. $4 billion and 150. SRAS₂ AD₁ 8 10 12 14 15 16 17 Real GDP (billions of dollars per year) AD₂

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter23: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 3CQQ

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