Question

use the aggregate supply (as) curve and aggregate demand (ad) curve below to determine the equilibrium price level and equilibrium real gdp for this economy.

Answer 1

When aggregate supply and demand overlap, the price level and real GDP level are in equilibrium.

Explain about the equilibrium?

A static or dynamic balance between opposing forces or activities that occurs when the velocities in both directions are equal, as in the case of a body acting on by forces whose resultant is zero a condition of intellectual or emotional equilibrium.

If the three requirements listed below are true, a solid body subject to three forces with non-parallel lines of action is in equilibrium: There are parallel avenues of action (in the same plane) There is convergence in the channels of action (they cross at the same point) These forces add up to a vector with a value equal to zero.

When the forward and reverse response rates are equal, a system is in equilibrium. The rate of the forward reaction rises when more reactants are introduced.

To learn more about equilibrium refer to:

brainly.com/question/26075805

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