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Refer to the data in the table below. Suppose that the present equilibrium price level and level of real GDP are 100 and $215b If the amount of output demanded increases by $50 at the 100 price levels shown in C, what would be the new equilibrium rea

Refer to the data in the table below. Suppose that the present equilibrium price level and level of real GDP are 100 and $215, and that data set C represents the relevant aggregate supply schedule for the economy Price Level Price Level Price Level Real GDP Real GDP Real GDP 100 215 110 110 240 290 100 100 100 240 265 240 95 95 240 240 100 265 215 100 90 240 90 290 Instructions: Enter your answers as whole numbers a. What must be the current amount of real output demanded at the 100 price level?
b If the amount of output demanded increases by $50 at the 100 price levels shown in C, what would be the new equilibrium real GDP? n business cycle terminology, what would economists call this change in real GDP? (Click to select
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