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Identify the correct statement. Group of answer choices Aggregate demand alone determines equilibrium price and output. Aggregate supply alone determines equilibrium price and output. Aggregate supply shows the negative relationship between price level and real GDP. Aggregate demand and aggregate supply determine equilibrium price and output. Aggregate demand shows the positive relationship between price level and real GDP.

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Answer:

Aggregate demand and aggregate supply determine equilibrium price and output.

Step-by-step explanation:

In an economy only aggregate demand or aggregate supply cannot determine the equillibrum price.

Looking at the attached diagram, aggregate demand I'd negatively sloping and aggregate supply is positively sloped.

Where they intersect determines the equillibrum price and equillibrum quantity.

Aggregate demand is the total demand for God's and services in an economy, and has an inverse relationship to price.

Aggregate supply is total supply of goods and services to consumers, and it has a direct relationship with price.

Identify the correct statement. Group of answer choices Aggregate demand alone determines-example-1
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