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What happens to the output and price level if aggregate demand and
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- What kind of change would happen to aggregate demand, aggregate supply, and real GDP. if foreign countries purchase an unusually large number of U. S. manufactured passenger and military airplanes.Are the determinants of aggregate demand the same things that apply to demand for an individual good?What effects would increase in aggregate demand have on price levels and GDP?
- What change does recession has on the price and output level when the change in aggregate demand is more than change in aggregate supply ?How do changes in expectations, fiscal policy and monetary policy, and the world economy change aggregate demand and the aggregate demand curve?What change does recession has on the price and output level when the change in aggregate demand is less than change in aggregate supply ?
- Draw an aggregate demand and supply diagram for Japan. In the diagram, show how each of the following affects aggregate demand and supply: The U.S. gross domestic product falls. The level of prices in Korea falls. Labor receives a large wage increase. Economists predict higher prices next year.What is the difference between a movement along the aggregate demand curve and a shift of the aggregate demand curve?How did the decline in U.S. home prices in 2006–2008 affect aggregate demand?