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What equilibrium real national output means

What equilibrium real national output means

AD/AS diagram with price level on the vertical axis, real national output on the horizontal axis, and equilibrium at the intersection of AD and SRAS Equilibrium real national output is the level of real GDP produced where aggregate demand intersects short-run aggregate supply. On an AD/AS diagram, the vertical axis is the price level and the horizontal axis is real national output.

2.4.3 Equilibrium levels of real national output Lesson

  1. A Level
  2. /Economics
  3. /2.4.3 Equilibrium levels of real national output