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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

Suppose that, at a price index of 154, the quantity demanded of U.S. Real GDP is $10.0 trillion worth of goods. Do these data represent aggregate demand or a point on an aggregate demand curve? Explain your answer.

To determine

To determine the price index and the real GDP indicates aggregate demand or aggregate demand curve.

Explanation

The given data of price index is 154 and the quantity demand of US real GDP is $10 trillion worth of goods, which represents the aggregate demand curve beca...

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