26 Jul WHAT IS THE EQUILIBRIUM OUTPUT AND PRICE LEVEL?
What is the equil Show more Based on the table below sketch an aggregate supply and aggregate demand diagram. What is the equilibrium output and price level? If aggregate demand shifts right what is equilibrium output? If aggregate demand shifts left what is equilibrium output? 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? Quantity of Quantity of Price level aggregate supply aggregate demand 90 3000 3500 95 3000 3000 100 3000 2500 105 3000 2200 110 3000 2100 Show less
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