Based on the figure above, short-run equilibrium occurs at the price level of
A. 120 and real GDP of $4 trillion.
B. 130 and real GDP of $8 trillion.
C. 140 and real GDP of $12 trillion.
D. 130 and real GDP of $12 trillion.
Answer:B
Based on the figure above, short-run equilibrium occurs at the price level of
A. 120 and real GDP of $4 trillion. B. 130 and real GDP of $8 trillion. C. 140 and real GDP of $12 trillion. D. 130 and real GDP of $12 trillion.