The portion of the short-run aggregate supply that reflects the economy's resources are not fully employed is the:

Suppose total planned expenditures equal $20 trillion when the value of the price level is 100. If the price level drops to 90, total planned real expenditures will equal

A) more than $20 trillion. B) $20 billion. C) less than $20 trillion. D) None of the above: Cannot be determined without additional information.

Suppose the market for Blu-rays has the demand and supply schedules shown in the table above. What is the equilibrium price and the equilibrium quantity in this market? Suppose the current price is $12.00

What is the quantity of Blu-rays sold? Explain. Is there a shortage or a surplus? How big is it? Explain.