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The intersection of the aggregate demand and aggregate supply curves determines ______. Multiple choice question. the equilibrium price level and equilibrium real interest rate the equilibrium real interest rate and equilibrium real GDP the long-run equilibrium price level and real GDP the equilibrium price level and equilibrium real GDP

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Tundexi

The intersection of the aggregate demand and aggregate supply curves helps to determine

  • the equilibrium price level
  • the equilibrium real GDP.

The Aggregate supply curve shows the total quantity of goods and services that firms will produces and sells. In other word, it shows the real GDP of an economy.

The aggregate demand curves shows the quantity of goods and services demanded at different price levels.

Therefore, the intersection of the aggregate demand and aggregate supply curves determines equilibrium price level and equilibrium real GDP.

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