Illustrate at what price level is equilibrium in all markets

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Reference no: EM1362021

equilibrium in commodity markets is attained when y = rs.850-2500r; and equilibrium is attained inequilibrium in commodity markets is attained when y = rs.850-2500r; and equilibrium is attained in the money markets when y = rs.500 + 5m + 1000r, where y is real income, r is the rate of interest and m is real money supply full employment equilibrium exists at rs.650 real income. if the nominal money supply is rs.200 and the price level is 1, (i) is the economy operating with inflationary or deflationary condition?(ii)At what price level will there be simultaneous equilibrium in all markets?

Reference no: EM1362021

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