The following table to answer the following questionsprice, Ask an Expert

Economics

The following table to answer the following questions.

Price Level AS AD

90 3000 3500

95 3000 3000

100 3000 2500

105 3000 2200

110 3000 2100

1) What is the equilibrium output and price level?

2) If aggregate demand shifts right, what is equilibrium output?

3) If aggregate demand shifts left, what is equilibrium output?

4) In this scenario, would you suggest using aggregate demand to alter the level of output or to control any inflationary increases in the price level?

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91371003

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