Questions: The equilibrium price level and equilibrium output is determined by the intersection of the aggregate demand curve and the aggregate curve.

The equilibrium price level and equilibrium output is determined by the intersection of the aggregate demand curve and the aggregate curve.
Transcript text: The equilibrium price level and equilibrium output is determined by the intersection of the aggregate demand curve and the aggregate curve. $\square$
failed

Solution

failed
failed

The answer is: aggregate supply curve.

Explanation:

  • The equilibrium price level and equilibrium output in an economy are determined by the intersection of the aggregate demand (AD) curve and the aggregate supply (AS) curve. This intersection point represents the equilibrium where the quantity of goods and services demanded equals the quantity supplied, setting the overall price level and output in the economy.

  • The aggregate demand curve represents the total quantity of goods and services demanded across all levels of the economy at different price levels, while the aggregate supply curve represents the total quantity of goods and services that producers are willing and able to supply at different price levels.

  • Therefore, the correct term to fill in the blank is "aggregate supply curve."

Was this solution helpful?
failed
Unhelpful
failed
Helpful

Questions asked by other users

failedAnswered
A dietitian in a hospital is to arrange a special diet using three foods, L, M, and N. Each ounce of food L contains 10 units of calcium, 5 units of iron, 10 units of vitamin A, and 20 units of cholesterol. Each ounce of food M contains 5 units of calcium, 5 units of iron, 15 units of vitamin A, and 20 units of cholesterol. Each ounce of food N contains 5 units of calcium, 5 units of iron, 10 units of vitamin A, and 18 units of cholesterol. Select the correct choice below and fill in any answer boxes present in your choice. If the minimum daily requirements are 160 units of calcium, 100 units of iron, and 240 units of vitamin A, how many ounces of each food should be used to meet the minimum requirements and at the same time minimize the cholesterol intake? A. The special diet should include x1= ounces of food L, x2= ounces of food M, and x3= ounces of food N. B. There is no way to minimize the cholesterol intake.
failedAnswered
Lysosomes contain enzymes that prepare the vesicles that will be used by the Golgi apparatus to package its secretory products. False True
failedAnswered
Without graphing, find the x - and y-intercepts for f(x). f(x) = x^2 - 5x + 3 Select the correct choice below and fill in any answer boxes in your choice. A. There is no x-intercept. B. The x-intercept(s) are (Type an integer or decimal rounded to the nearest tenth as needed. Use a comma to separate answers as needed.)
failedAnswered
Construct a polynomial function with the stated properties. Reduce all fractions to lowest terms. Fourth-degree and a single zero of -1.
failedAnswered
Decision analysis. After careful testing and analysis, an oil company is considering drilling in two different sites It is estimated that site A will net 30 million if successful (probability .4) and lose 3 million if not (probability .6); site B will net 70 million if successful (probability . 3 ) and lose 6 million if not (probability . 7 ). Which site should the company choose according to the expected return from each site?