In the above figure, if aggregate demand does not change, the long-run equilibrium will be at the price level of ________ and real GDP of ________

A) 100; $15.5 trillion
B) 120; $16 trillion
C) 100; $16 trillion
D) 110; $15.5 trillion

C

Economics

You might also like to view...

The above figure shows Bob's utility function. He currently has $100 of wealth, but there is a 50% chance that it could all be stolen. Bob's expected wealth is

A) $0. B) $50. C) $75. D) $100.

Economics

A 10 percent increase in the price of neckties leads to a 5 percent decrease in the quantity demanded of neckties. The absolute price elasticity of demand is

A) 3. B) 0.33. C) 0.5. D) 2.

Economics