Answer to Question #135833 in Macroeconomics for Nelius Munene

Question

Consider an economy described by the following: AD: Y = 2250−10P, AS: P = 125+0.1Y.
What are the short-run equilibrium values for real GDP and the price level?
Hint: In equilibrium: AD = AS
(AD is aggregate demand and AS is aggregate supply

Answer 1

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