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ruslelena [56]
3 years ago
13

At the current price level, producers supply $375 billion of final goods and services while consumers purchase $355 billion of f

inal goods and services. The price level is:
a. above equilibrium.
b. at equilibrium.
c. below equilibrium.
d. More information is needed.
Business
1 answer:
prohojiy [21]3 years ago
7 0

Answer:

a. above equilibrium. 

Explanation:

At equilibrium, quantity supplied equals quantity demanded.

Above equilibrium where price is higher, quantity supplied would be greater than quantity demanded. In the question above, supply is $375 billion of final goods and services while demand is $355 billion. This indicates that price levels is above equilibrium price.

Below equilibrium, quantity supplied would be less than quantity demanded.

I hope my answer helps you.

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Explanation:

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