QUESTION 8 Refer to the table, which gives aggregate demand and supply schedules for a hypothetical economy. If the price level is 250 and producers supply $450 of real output: Amount of Real Output Demanded Price Level (Index Value) Amount of Real Output Supplied $500 $200 300 300 250 450 400 200 400 500 150 300 600 150 200 O a shortage of real output of $150 will occur. a shortage of real output of $100 will occur. O a surplus of real output of $150 will occur. a surplus of real output of $100 will occur. neither a shortage nor a surplus of real output will occur.

QUESTION 8 Refer to the table, which gives aggregate demand and supply schedules for a hypothetical economy. If the price level is 250 and producers supply $450 of real output: Amount of Real Output Demanded Price Level (Index Value) Amount of Real Output Supplied $500 $200 300 300 250 450 400 200 400 500 150 300 600 150 200 O a shortage of real output of $150 will occur. a shortage of real output of $100 will occur. O a surplus of real output of $150 will occur. a surplus of real output of $100 will occur. neither a shortage nor a surplus of real output will occur.

Principles of Economics (MindTap Course List)

8th Edition

ISBN:9781305585126

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter33: Aggregate Demand And Aggregate Supply

Section: Chapter Questions

Problem 4CQQ

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