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Author Question: If the equilibrium price level is 135 but the actual price level is 150, then A) firms increase ... (Read 116 times)

a0266361136

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on: Jun 29, 2018
If the equilibrium price level is 135 but the actual price level is 150, then
 
  A) firms increase their production because they are able to sell their output at a higher than expected price.
  B) aggregate demand will decrease to restore equilibrium.
  C) aggregate demand will increase to restore equilibrium.
  D) the quantity of real GDP demanded is less than the quantity of real GDP supplied.
  E) the quantity of real GDP demanded is greater than the quantity of real GDP supplied.

Question 2

The above table gives data for the nation of Mouseville. There are no imports into or exports from Mouseville. Aggregate planned expenditure is less than actual expenditure if real GDP is
 
  A) less than 700 billion.
  B) more than 800 billion.
  C) 800 billion.
  D) less than 800 billion.
  E) more than 700 billion.


C.mcnichol98

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Reply #1 on: Jun 29, 2018
Answer to Question 1

D

Answer to Question 2

B


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